Image courtesy of Stull & Lee

A development proposal by a pair of local nonprofits would create affordable artist housing and preserve a 92-year-old former bank building as an exhibition and civic space in Dorchester’s Upham’s Corner.

Preservation of Affordable Housing and Dorchester Bay Economic Development Corp. submitted plans for the seven-story, 98,000-square-foot Columbia Crossing project at 568-574 Columbia Road. 

The site, currently owned by the Dudley Street Neighborhood Initiative Inc. and Dudley Neighbors Inc., includes a vacant building formerly occupied by Dorchester Savings Bank and a building containing office and retail space. The 1930 Art Moderne-style bank building would be renovated for arts and civic uses, and a glass-wrapped “glow box” gallery would contain exhibition and performance space.

Rents for the commercial space will be offered at approximately 50 percent of the neighborhood’s market rate to local artists and businesses. Groups including the Community Music Center of Boston and the Dorchester Art Project have expressed interest in occupying the space, according to a project notification form submitted to the Boston Planning and Development Agency.

The neighborhood has been designated as an arts and innovation district by the city to leverage the creative economy anchored by sites such as the Strand Theatre, located across the street from the project site.

Designed by architects Stull & Lee, the all-affordable project would include 12 artist live-work units, and 57 of the 63 housing units would be reserved for households earning 60 percent or less of area median income.