Culture Tavern? Where you can drink in the writing and art...and maybe even pay for some. There will even be some bartenders, showing and selling their work.
The other idea I had was The Menagerie, you could get fancy with it and call it something like The Magical Menagerie (because alliteration). The main meaning of the word is a collection of wild animals kept for exhibition, but there's a secondary meaning of "a strange or diverse collection of people or things." I figure that could fit.
Perhaps something simple? Like The Arts Museum? Or The Arts Forum? Since not only is art, art, but writing is art, too. =3 It kinda sums up everything in it.
Not sure as far as anything that would describe what it's for, but I think the right term for the location itself would be a Bazaar. An open air market that typically involves many types of products and wares, such as, in this case, writing and art.
Artisan Showcase (A showcase - A setting, occasion, or medium for exhibiting something or someone especially in an attractive or favorable aspect. It's my favorite title.)
Artisan Avenue (This is my second favorite.)
Inspired Artistic Minds (Or Inspired Artisans. Which refers to anything artistic.)
Iwakuian Artisans (Or Iwakuian Arts)
That's all I've got so far.If I think of more I'll post them. :)
There are a lot of GREAT suggestions here, keep them up! O____O I'm seeing a few unique titles that's different from most rp sites typical titles and I like that.