Studio West 117
CDA provided a $1.2 million loan facilitate the acquisition of the former Phantasy Entertainment Complex on Detroit Avenue in Lakewood. The development team of Betsy Figgie and Daniel Budish plans to renovate several ground-floor retail storefronts as build-to-suit spaces and are looking to create a dedicated space for music and entertainment with the remaining space.
The 55,000 square foot vacant building is one of several that will be redeveloped to created a mixed-use hub for the LGBT community.
Other nearby properties are part of the LGBT Hub plan, which includes recreation, housing, entertainment, dining and help with housing, health, entrepreneurship and other social support services.
The first part of the LGBT Hub – the Fieldhouse at Studio West 117 – opened in late 2022 and includes a gymnasium and three restaurants.
Job Creation
This project is expected to create quality jobs in the service and food industries.
Neighborhood Revitalization
The project is apart of a larger development plan in the neighborhood. Revitalizing the vacant Phantasy Entertainment Complex
Executed Community Benefits Agreement
The project sponsor has committed to quantifiable community impacts by executing a Community Benefits Agreement.
