After only four years, Canal Projects will be closing its physical location at 351 Canal Street and transitioning into a grantmaking model starting next spring. Established by the Korean American community-oriented YS Kim Foundation, the organization supports local and international artists in emergent and established phases of their careers. According to a press statement shared with Hyperallergic, Canal Projects will commit approximately $3 million in funding for upcoming artist projects over three years beginning in May 2026, including financial support for Korean artist Ayoung Kim’s forthcoming exhibition at MoMA PS1. “This new model will enable the non-profit organization to channel resources globally and expand its impact beyond New York City,” the organization said. Read the full story by rhea.nayyar at the link in bio. . . . The façade of arts nonprofit Canal Projects's physical space at 351 Canal St in Manhattan (photo Lakshmi Rivera Amin/Hyperallergic) #CanalProjects #C...