On the original nexus 7 you need to be on a custom rom. It does not ship with art as an available option by default
Before I upgraded my Nexus 7 † to Lollipop last week, I ran KitKat (4.4.4) with ART runtime to check for compatibility issues with the apps I use, so it is definitely possible.
I had no problem, so happily upgraded to Lollipop when it was offered.
There do however seem to be circumstances where the option to switch runtime is not shown, although I do not know why.
Speaking with a colleague today, with the same 2012 Nexus 7 as myself, he was never offered the option to switch to the ART runtime, and isn't now being offered th option to upgrade to Lollipop. It is possible that the root cause is the same for both of these problems, but I have not been able to identify why or how to fix it.
Anyway, to cut a long story short, ART runtime is available on Android 4.4 (4.4.4 at least) for the Nexus 7 2012 and has been for quite some time. If you are not being offered the option to switch to it, there must be some other problem preventing the option being offered.
Tablet: † Google Nexus 7 2012 16GB, Model ME370T, never rooted, only ever run on stock firmware.