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by POPSUGAR Fashion News 0

>> CFDA, New York City Join to Subsidize Fashion Incubator for Emerging Designers —On Monday, New York City's Bloomberg administration announced that it will be subsidizing rent for a 10,000 square foot fashion incubator space; emerging designers will compete for twelve spaces in a showroom building in the garment district, with rent coming in at only $1,500 instead of the current $2,900 market price for a comparable space.  The new tenants will be selected through a competition; winners will be announced in December and move-in — with a lease lasting two years — is expected in February. The 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. The CFDA also plans on giving the selected designers educational and industry support. [NYTimes City Room]