I will point out that the cliche of starving writers/artists ain't always a cliche.
I am fairly successful at this career, but still need a day job to take up the financial slack. My budget is tight. I can't afford to spend gas to drive to some other location, pay even a small rent for the space, hope the restrooms are clean, hunt down snack machines, and hope other renters won't share their music and sex lives through the walls.
Not when I can just clear a table and do the butt in chair thing in my own house. (Portions of which I take off my taxes because it's my writing space.)
It's a wonderful idea, but look at the target group in your area. How many people in the mundane world are truly serious enough about writing/art that they regularly NEED such a space for their work?
I live in a city with a population of 1.6 million. Out of that entire number I've encountered no more than a hundred who were interested (more or less seriously) in writing, and less than a dozen of that number turned up on a regular basis to a "large" writers' workshop (5-10 people every week). It was a long-running workshop/critique and advertised widely at the library & bookstores, and we hardly ever saw new faces. Pro writers? I know four living in this town. They all work from home like me.
My town supports a major university, smaller colleges, and junior colleges, which are often breeding grounds for new writers. They're too busy or don't have the money to spare, so they plug in their iPods, sit in the dorms, campus libraries or their cars and write.
I'm all for giving talent some quiet space to write, but the practical application of providing one for so small a number may not work.
Unless the space you rent--and you'd have to put up that starting money yourself--is already divided up into cubicals/rooms you'll have to get raw materials and tools and do it yourself. If you're not into framing up new rooms with 2X4s, sheetrocking, installing doors and locks, then painting the space, you have to hire a contractor. They're not cheap, either. Building permits, janitor service, electric bill, water bill, garbage pick up--I'd really rather be writing.
You have to shell out to advertise and hope that the writers in your area bother to read the paper, look at library fliers, or posts on the BB at the grocers. (Or go to the right websites.) They have to sign a rental contract and you have to collect that money every month, which ain't fun when they don't have the cash.
Then you wait, like any good landlord, and hope customers show up and aren't too creepy.
Proceed with caution, 'k? If those others closed due to lack of financial support then you might want to learn from their experience.
Now...if you want to open a rav club & charge a cover for local bands to play three nights a week you could make a killing. The mess the next morning is pretty yukky, though.
