(New York, NY) Last Monday, New York City's Bloomberg administration announced that it will be subsidizing rent for a 10,000 square foot fashion incubator space in conjunction with the Council of Fashion Designers of America. Exclusively for emerging designers, the hub will house twelve spaces in a showroom building located in the garment district, with rent coming in at only $1,500.00 (instead of the current $2,900.00 market price for a comparable unit). The tenants will be selected through a competition helmed by the CFDA. Winners will be announced in December and will move-in February---with a two year lease in tow. But before you 'aspiring' designers gag with glee, there are requirements. All applicants must be "working designers," according to CFDA Executive Director Steven Kolb, who have been in the business for a year and a half, employ a staff, and have both media attention and orders from top retailers. Known for their spirit of nurturing, the council plans on giving the selected designers educational and industry support during their leased tenure. If only Bloomberg and Co. would subsidize dwellings for struggling magazine writers, stylists and editors. Blaynistas what are you thinking?
---J. Dwayne Joseph