The sprawling warehouse-like structure on 131/2 acres at 10th Street and Brookside Avenue doesn’t call to mind a potential “cultural destination.” But a diverse, determined group of artists believes it can change that.

Tucked along a few central corridors of the Circle City Industrial Complex, home to mostly light manufacturing and storage tenants, are five studios hosting nine artists. In former offices and research areas, they create fine furniture, installations and paintings, along with metal jewelry, glass beads and sculpture.

What is the attraction of an industrial building that dates to the late 1920s, when it was known as The Schwitzer Building? (Its owner, Louis Schwitzer, won the first auto race at the Indianapolis Motor Speedway — a two-lap 5-miler in 1909 — and built his corporation into a major auto industry force.)

For the complex’s first two artist residents, it was the memory of a beloved former occupant, Dolphin Papers, which operated in the building for 20 years.

That’s how Martha Nahrwold discovered it. An artist specializing in marbled impressionism paintings, papers and collages, Nahrwold frequently shopped at Dolphin and decided to relocate her studio from home to the building when space became available. For 14 years, she was the sole artist occupant, though artists on their way to Dolphin would stop at her studio.

But three and a half years ago, new owners took over the building, and with them came a new local management company. At about the same time, Wug Laku, a Lilly Endowment/Arts Council of Indianapolis Creative Renewal Arts fellow, was looking for studio space where he could craft his furnishings, lightboxes, decorative waterstone wood boxes and paintings (he also does photography).

He visited “all the usual candidates, but nothing felt quite right.” At a friend’s suggestion, he visited the complex and immediately recognized the vibrant turquoise, red and yellow exterior walls.

“I walked in the door and I thought, ‘Oh, Dolphin Papers,’ " he said.

But it was the spaciousness of the available studio, along with affordable rent (“it’s half of what I would have paid anywhere else,” he said), that sold him. So Wug Laku’s Studio&Garage joined Nahrwold’s Five Seasons studio, and a new artist community was launched.

As word spread, other artists checked out the complex, but overall exposure still was slow to build. Then, two years ago, Laku connected with other artists through the online social network Smaller Indiana to hold the Elegant Funk show at his gallery.

“It brought a lot of attention to the place,” he said. “Since then, it has gone much better, and we’ve had some other really knockout shows.”

Now, some First Friday visitors — their number has increased from 10 a night to nearly 300 at the most recent event — are calling the Circle City Industrial Complex as “the next Stutz,” referring to the haven for artists in the former auto factory at 217 W. 10th St.

A sense of competition does not seem to be evident, though. In fact, Kate Oberreich, vice president of the Stutz Artists Association, which has about 100 members, exhibited her work at Laku’s gallery in February and March with a show called “Undertow.”

“I had a really great experience,” the mixed-media painter said. “I’m in support of any enclave of artists that seeks to raise awareness and professionalism of and in the Indianapolis arts community.”

Along with knockout shows, the complex has attracted more knockout artists. A little more than a year ago, Nancy Lee, a metalsmith, goldsmith and sculptor, was looking for work space after a tree fell through her studio’s roof. She had met Laku through Elegant Funk, and he offered to share his studio.

Lee decided to relocate to the complex, opening nDesigns by Nancy Lee in January. She creates and sells copper, silver, brass and gold jewelry, crafts commissioned sculptures and teaches silversmithing classes.

At the same time, lamp-work artist Jari Sheese, owner of Boca Loca Beads and a Creative Renewal Arts fellow, was looking for space. After 20 years in the bead business, she wanted to make a change.

“The bead store was something that I had loved, but the economy was really rough, and I thought, ’I’m going to do less overhead and try to do something that I really love full-time.’ "

That something was teaching group and private lamp-work classes in which students learn to make beads, buttons and other works of art. In January, Sheese closed her shop and opened Fuego Loco (“crazy fire”) Studio in shared gallery space with Lee, where they are collectively known as Flame Art Studios. What drew her to the complex was the space for her hefty equipment, along with what she refers to as “the Bat Cave,” a private garage/entrance off the studio. And, most important, “the community of artists in the building.”

Lee and Sheese are part of a mini- influx of artists who have settled there in the last eight months, including 2008 Efroymson Contemporary Arts Fellow Michael Lyons and three furniture design graduates from the Herron School of Art and Design: Nick Allman, Ted Ross and Robin Long-Jordan. In the tight-knit group, collaboration and support are core values.

“There’s a layer of realness to this now — and officialness and grown-up-ness,” Lee said. “It feels right. It’s so different than working in isolation. It’s really the unknown bonus of working with what you love (around) other people working with what they love.”

Nahrwold, the complex’s original artist, has offered the newcomers an enthusiastic welcome. For years, she said, she had encouraged the complex’s landlord to advertise for artists when space was available. Now that word is out, the artists hope to take the next step toward promoting themselves as a professional community.

“That’s the main thing we want to do — high quality, museum-quality fine art,” Laku said. “And people who will take a little bit of a risk, push themselves artistically and have a lot of artistic integrity. There are no hobbyists in this place. This is a career for everybody who’s here.”