Studio Space?!

I have recently been to Hamilton, a thriving arts section in the city. It was a Doors Open Event and among the wonderful historical buildings, there was one space that struck me as a great idea and I wish we had out here in Durham.

One... it would be great if Durham had a "Arts Disctrict" - which invites an Art Crawl every month in the summer
Two... for those that don't have studio space that allows for growth there is a renovated building that have been converted to wonderful studios for artists. For a low rental price, you get a beautiful 300 (roughly) sq. ft. space with natural lighting, utilities and not to forget the fact that there are other artists in the building.

Being that I am looking for space of my own to eventually teach out of, this is a great thing for artists that don't have the space for a studio where they live.

Any comments or ideas for the above wold be greatly appreciated.