Public Dreams Society will be officially closing its doors at the end of this month.

According to a city report, the arts organization that has hosted the Parade of Lost Souls and Illuminares Lantern Festival is dissolving, and will be vacating its studio space on November 30.

But the popular October march is slated to carry on through Dusty Flowerpot Cabaret Society, which has co-produced the event since 2010.

The society is also set to take over the Public Dreams studio space in Mount Pleasant on a temporary six-month lease being recommended by Vancouver staff.

Kat Single-Dain, the cofounder of Dusty Flowerpot, said the organization will be working on various other projects, including running workshops out of the studio.

“We really just want to create opportunities for more expression in Vancouver," Single-Dain told the Straight by phone.

And while the future of Illuminares, the annual lantern display at Trout Lake, is still up in the air, Single-Dain indicated Dusty Flowerpot would be prepared to take on the event if another organization doesn’t step up to run it.

“We do have the capacity for it,” she said. “We basically would just like to see the event happen. We have no attachment to us producing it ourselves.”

In 1997, council approved a 10-year lease of the city-owned studio space at East 5th Avenue and Scotia Street to Public Dreams Society for a nominal rent of $1 a year, in addition to payment of monthly strata fees, which are about $642 a month.

The society was established in 1985, and hosted the Parade of Lost Souls for more than 20 years.

Council will vote on the recommendation for Dusty Flowerpot to take over the Mount Pleasant space next Tuesday (December 3). If approved, the city will launch an open application process for long-term occupancy of the studio in January 2014.

Single-Dain noted the organization is hoping to secure long-term tenancy of the space through that process.