In a surprising turn of events, the Curtis Institute of Music has successfully acquired the Art Alliance building, besting Temple University’s bid. The transaction, confirmed by a Temple representative, marks a significant development in Philadelphia’s educational and cultural landscape.
According to reports, Curtis Institute offered $7.6 million for the property, surpassing Temple’s $6.2 million bid. This purchase is set to be finalized soon, as reported by The Philadelphia Inquirer. However, the sale faced a legal challenge from Pennsylvania Attorney General Michelle Henry, who filed a limited objection to the sale going to a non-Temple entity.
The Attorney General previously objected to selling the Art Alliance building to Allan Domb, a former city councilmember and real estate developer, who proposed a $6.5 million bid. Henry argued that Domb’s intentions likely leaned towards commercial real estate development, which contrasted with the educational use proposed by Temple University.
Henry emphasized, “In the instant case, with Temple University being situated in Philadelphia, sharing educational principles and programs with the Debtor UArts and also having taken on a substantial portion of the students displaced by the closure of the UArts, Temple’s bid satisfies the cy pres doctrine perhaps better than any other entity in the city could, and their bid should have preference over others which lack these necessary criteria.”
The Curtis Institute is set to expand its presence with the new acquisition, as its main facility is located just a block away from the Art Alliance building on Locust Street. A spokesperson for Temple expressed optimism, stating, “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.”
Despite this outcome, Temple University remains hopeful about acquiring Terra Hall, the largest building once owned by the University of the Arts. With an $18 million bid, Temple aims to establish its Center City campus there, pending court approval, according to President John Fry.
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