Center City Philadelphia

Temple acquires Terra Hall, the largest former UArts building, for $18M

On Monday, a judge approved Temple University's acquisition of the former University of the Arts structure on Broad Street for $18M. The building will become Temple's new Center City campus

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Temple University could soon be expanding now that the school has seen its bid to purchase the University of the Arts' former Terra Hall building for $18 million.

On Monday, a judge approved the bid, with Temple needing to pay $1.8 million -- or 10% of the purchase price -- within two business days of the approval.

Back on Jan. 10, 2025, Temple officials announced a plan to purchase the structure in a statement to the school community, saying that they decided to bid on the structure "located a few blocks south of City Hall at Broad and Walnut streets," in order to "establish a prominent Temple presence in an iconic Philadelphia building."

Officials said they hope to turn Terra Hall into the future home of Temple University Center City as the school's lease on its current facility along the 1500 block of Market Street will expire in June of 2027.

"Beyond serving as the new home of TUCC, Terra Hall creates an opportunity for the university to be part of the continued revitalization of the Avenue of the Arts—an important cultural corridor—while opening the door for additional academic opportunities for our students," school officials wrote in an announcement for the bid.

The University of the Arts was one of the oldest schools in the country with a history that dated back to the 1870s.

The institution had been a fixture in Philadelphia, producing artists and musicians from around the world, until it was abruptly shuttered in June of last year.

At the time, UArts officials said "many years of declining enrollments, declining revenues, and increasing expenses” had left the school in a “fragile financial state."

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