We have a nationally recognized Community Theatre (where my wife and I sometimes appear onstage), along with a local (private) School For The Performing Arts.

Even the greatest businessmen in the world focus their capital in several areas (Bill Gates collects art, for example).

So if you are familiar with Dallas we have bought Live Oak and Skillman (walking distance to Lower Greenville), Bishop Arts, Medical District/Maple, M Streets, and a couple of properties in Elmwood.  

For most people this is more of an art than a science.

It was a former gas station in the center of a new and booming arts district, but even if they did the owners liability was 10k with the likely possibility of a windfall in the form of remediation management (sort of like insurance in the event of worst case).

Event space, art gallery, or a fantastic restaurant with shops inside.

Managing people is an art as well as a science.

Costs art different in each market.

There's a good deal of art to real estate valuation. 

Thank you,Art