Lisa Evans: Cottage Street Studios rent increase risks killing the golden goose

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Published: 07-21-2024 12:50 PM

I have closely followed the controversy over the efforts by Riverside Industries to equalize the rents in the One Cottage Street facility. The building is old and requires much maintenance, so I do understand why a non-profit would seek additional revenue sources. However, one thing seems to be getting lost: that by raising the rents all at once and forcing tenants to leave, Riverside is putting short-term gain ahead of the long-term health of their property and Easthampton itself. Not only will they lose tenants who already pay rent (some of whom have been at One Cottage Street for nearly 40 years), their reputation as landlords will take a hit and impact their ability to find new tenants. Worse, forcing out the arts community that has been a major force behind the revitalization of Easthampton will hurt the town as a whole — just look at the empty storefronts in Northampton to see what happens when landlords ask for too much, too soon.

The arts community has been the goose that laid the golden eggs for Easthampton and its economy. Forcing out the artists just as the city is taking off is foolish in the extreme. Riverside needs to keep that in mind before they've killed the goose and hurt both themselves and the community.

Lisa Evans

Easthampton

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