Community Festival The annual Waterloo Arts Fest takes place in the artistically vibrant Waterloo Arts & Entertainment District in the lakeside neighborhood of Collinwood in Cleveland, OH. Over the past twenty years the festival has grown but it has always remained grounded in community and fresh with local art. For seven hours each year, the Waterloo Arts Fest reminds residents and visitors of the many assets in the Waterloo Arts District, of the incredible potential still to be realized and how wonderful it is to live in a city neighborhood with a great mix of people.