On the hunt for a shocking property with sweeping views of the bay, loads of room and a priceless piece of San Francisco historical past? The San Francisco Artwork Institute’s legendary temple to creativity in Russian Hill is up on the market.
The San Francisco Artwork Institute’s 97-year-old Russian Hill campus was put in the marketplace Monday nearly a 12 months after the artwork faculty introduced it will shutter the 1.75-acre campus. The closure adopted an try by the Regents of the College of California to stop the foreclosures of the Chestnut Avenue property in 2020 and the breakdown of a proposed merger take care of the College of San Francisco in 2022. In April, SFAI—believed to be the oldest establishment of its form west of the Mississippi at 152 years outdated—filed for chapter, setting the stage to liquidate thousands and thousands in property, together with a historic Diego Rivera mural.
However the place some might even see a nail within the coffin of San Francisco’s artwork historical past, others might even see alternative for a vivid future for arts schooling within the Metropolis by the Bay. The 93,000 square-foot artwork campus, designed by Metropolis Corridor architects Bakewell and Brown and in-built 1926, boasts an iconic bell tower, inside courtyard, library, terrace, a rooftop amphitheater, galleries, studios and delightful bay views. Architect Paffard Keatinge-Clay, who studied below famed modernist architect Le Corbusier and apprenticed at Frank Lloyd Wright’s studios, designed an addition often called the Clay constructing.
The campus can be residence to Rivera’s The Making of a Fresco, Displaying the Constructing of a Metropolis, a metropolis landmark valued at $50 million. The fresco is accessible for acquisition together with the property, which can be a metropolis landmark, based on a press launch.
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Artists like Bay Space expressionist Richard Diebenkorn, Obama portraitist Kehinde Wiley and Oscar-winning director Kathryn Bigelow have all walked the artwork faculty’s storied halls. In February, a bunch of devoted SFAI neighborhood members, archivists, artists, curators and humanities advocates, got here collectively to launch an impartial nonprofit group, The SFAI Legacy Basis + Archive (SFAI LF+A), to lift $250,000 and home the artwork institute’s archives, which accommodates supplies associated to notable school and alumni. Actual property agency Cushman & Wakefield, which has been employed to promote SFAI’s Russian Hill campus, mentioned it has no data on the standing of the archives with regard to the property’s sale. A consultant for SFAI’s board and the SFAI LF+A didn’t instantly reply to The Customary’s request for remark.
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As for who is perhaps out there for such a property, potential homeowners would in all probability be within the schooling house.
“The best purchaser can be somebody who might use it as a college,” mentioned Tom Christian, govt director of Cushman & Wakefield.
The total price ticket of the property stays unlisted and topic to negotiation, Christian mentioned. The San Francisco Artwork Institute’s whole property are valued at a bit below $65 million as of April, based on earlier reporting.