T
he University of the Arts' historic properties on South Broad Street are up for sale as the university navigates bankruptcy. The nine buildings, including offices, apartments, and iconic Hamilton Hall, can be purchased individually or in bulk by interested parties. Major players like Temple University and developer Carl Dranoff have expressed interest, with tours given to at least 40 potential buyers.
The properties offer a vast range of possibilities for redevelopment, spanning over 760,000 square feet. However, five buildings hold historic designations, limiting what can be developed on those sites. The sale comes as the Avenue of the Arts area undergoes significant development, including new hotels, apartments, and restaurants.
Temple University is eyeing at least one building, while Dranoff is still weighing his bid options. The sale deadline is Wednesday, with interest running high among potential buyers. The larger project to overhaul parts of the Avenue of the Arts with green space, art, and public amenities is also underway, aiming to start its first phase by April 2025.
