Some UArts buildings sold out of bankruptcy. Here’s what’s left on the auction block in Philly

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Several buyers are scooping up the remains of the shuttered University of Arts campus in Center City as the properties are being sold at auction out of bankruptcy this month.

There are nine properties in prime locations, mostly along South Broad Street, being sold to repay creditors of the university, which abruptly closed in June 2024.

Those properties include: Anderson Hall, Hamilton Hall, Terra Hall, Gershman Hall, Juniper Hall, Spruce Hall, Furness Hall, Arts Bank and the Philadelphia Art Alliance building near Rittenhouse Square.

The buildings collectively are worth $163.6 million, according to city tax assessments.

The most valuable of which is Anderson Hall at $47.2 million, followed by Terra Hall at $34.2 million.

The Philadelphia Art Alliance building was assessed at $4.7 million, while the Arts Bank was estimated to be worth $1.1 million.

Curtis Institute of Music submitted the highest bid and won the Philadelphia Art Alliance property for $7.6 million, which was approved by the court Wednesday.

Curtis President and CEO Roberto Díaz said his classical music conservatory spread across two buildings on Locust Street is at “maximum capacity.” He and UArts had briefly discussed the possibility of buying the Art Alliance over a year ago, before the arts school abruptly closed, but the talks did not go anywhere at that time.

The Art Alliance is around the corner from the Curtis Institute, a half-block away. How it will use its new acquisitions is not yet determined.

“We’re gonna fill it up with music. That I can tell you,” Díaz said. “There will be teaching, coaching, rehearsing, master classes, rehearsals, all sorts of musical activity there. Now that we know that this is a reality, obviously we will take a much closer look at what makes the most sense.”

Real estate developer Allan Domb was previously the highest bidder of the Philadelphia Art Alliance building, pledging $6.5 million before dropping out.

Domb said he wanted a chance to restore a historic site but was happy to see it acquired by the music school.

“What attracted me to it was the potential of the building, how beautiful it is, the ability to use it for mostly arts, culture and possibly music,” he said, noting that there’s a garden which could have been turned into a restaurant.

“I thought it was fabulous that both institutions were interested. I think it’s great for the city, Curtis is a gem and I’m really pleased they got it.”

Domb said he did not bid on any other property owned by UArts.

Pennsylvania’s attorney general previously objected to the sale of the Arts Alliance property to any entity that was not an educational institution because there is a restrictive deed covenant that the building must be used for “exclusively for the purposes of education, exhibition, discourse and general public benefit.”

Temple University won the auction for Terra Hall with a $18 million bid but was outbid by Curtis Institute of Music for the Art Alliance property.

“The Art Alliance is an important building with a rich cultural history. We are delighted for the Curtis Institute of Music and confident that they will use the building to continue to foster the arts and serve future generations of students and Philadelphians,” according to a statement from Temple University on Wednesday.

Temple University expects to use Terra Hall as its new Center City campus after its lease at 1515 Market St. expires in June 2027.

“This transaction would mark the first time that Temple would own its Center City campus as opposed to leasing,” said John Fry, president of Temple University, in a press release.

The Arts Bank auction on Tuesday was won by Quadro Bay LLC for $2.7 million, edging out Lantern Theater, which bid $1.76 million.

Quadro Bay LLC is incorporated in Delaware; it was not immediately clear of the identity of the owner. Philadelphia-based OCF Realty did broker the deal but did not purchase the property. Quadro’s attorney told the judge Wednesday that the developer plans commercial on the ground floor and residential above for the building.

During the court hearing on Wednesday, the attorney general had similar concerns over the Arts Bank building sale but there’s no deed restrictions on that property. Still, the state attorney general’s office oversees the dissolution of any charitable organization, which includes UArts.

The judge did not approve the deal Wednesday to allow the state to share its concerns in writing, noting that the case is moving quickly with different bidders and objections.

The case is expected to return to bankruptcy court before the end of this month.

For years, the Lantern has been itching to get out of its longtime performance space at St. Stephen’s Episcopal Church at 10th and Market.

In 2019, the Lantern put in a bid to buy the Painted Bride in Old City, but was outbid by a developer.

In 2022, the company signed a long-term lease for a former Presbyterian church in Mount Airy, with the intention of converting it into a satellite performance space.

The Arts Bank would have been the Lantern’s downtown home base.

As of Wednesday, not all the buildings have bidders right now, bankruptcy records show. It was not immediately clear if or when the other properties would be auctioned off.

The properties that are left to sell include Anderson Hall, Hamilton Hall, Gershman Hall, Juniper Hall, Spruce Hall and Furness Hall.

This story will be updated.