University of the Arts lands $8.3M in bids for 2 buildings
January 2025 | Dive Brief | Ben Unglesbee
A Philadelphia real estate player and area theater nonprofit are among the first buyers to step up for the closed arts college's iconic properties.
UArts' sudden closure in June shocked the city and sparked protests, government probes and legal actions. In September, the university filed for Chapter 7 bankruptcy to manage its wind-down and the liquidation of its assets. That came after a possible deal with nearby Temple University fell through in August.
Most valuable among the shuttered private university's assets is its real estate portfolio, which includes iconic buildings in the heart of the Philadelphia
