SPACE Gallery now has its own space.

The gallery bought its location at 534-538 Congress St., along with the three floors above, which will preserve artists’ studios.

Nat May, the executive director of SPACE, said the building was purchased at the end of June for $1.45 million.

May said the purchase was funded by a mortgage from Bangor Savings Bank and a second mortgage from the White Pine Foundation. The gallery is now holding a fundraising campaign to pay back the second mortgage and raise money for a renovation and repair fund.

About half of the $538,000 has already been raised from donors, May said, and the gallery plans a fundraiser in September to try to raise more.

The gallery has been in that location for 13 years and has occupied the entire first floor for the past four years, May said. The previous owner told the gallery that he planned to sell, prompting the decision for SPACE to buy the building, he said.

The purchase will preserve 31 artists studios, May said. One of the studios is a printmaking collective that has about 20 members, he said, meaning space for about 50 artists is being preserved.