PHILADELPHIA (KYW Newsradio) — The abrupt announcement last week of University of the Arts’ imminent closure has left several open questions — for students and their families, for instructors and staff, for other art schools in the city. One big question for the city: What is to become of the university's real estate?
U Arts buildings are all over Center City, says Paul Steinke the executive director of the Preservation Alliance for Greater Philadelphia.
“The university does have a portfolio of several landmark buildings. Many of them are on the Avenue of the Arts. Some of them are a couple blocks on either side of it.”
Steinke says the buildings that have housed the nearly 150-year-old institution, which recently lost its accreditation, will remain part of the city’s architecture for some time to come.
“Some of them are historically registered with the city, which does give them some measure of protection from demolition or insensitive treatment,” he said.
“Most of them are in national register historic districts which means they could conceivably qualify for historic preservation tax credits.”
And that’s something Steinke says helps potential buyers of the buildings.
Steinke says he believes many of the buildings can continue in their intended purpose. “Some of them might be suited for continued institutional and arts and culture use,” he said.
“Some of them, I think, will be easily converted into residential use — whether that means hotel, apartments or even condominiums.”
He says a worst-case scenario would be long-term vacancy, while the future of the properties is determined as the University handles the effects of its closure in litigation.
“I don’t really foresee worst-case scenarios being the outcome,” he said.