A non-profit organization that provides affordable housing and work spaces for Toronto artists is being placed into receivership.

The move is being called a profound loss to the city’s arts and cultural landscape.

“Artscape” has announced it will wind-down the management of the spaces but says it is working with the city to have the facilities remain operational.

“Artscape” operates 14 projects in total, including live-work spaces and community hubs such as the old streetcar facility at Wychwood Barns.

Former Artscape board member Phil Anderson says the organization had its critics but was really the only game in town for creating below-market rent space for artists.  He’s urging more city councillors to advocate for affordable live-work spaces for artists.