The main campus of the bankrupt San Francisco Art Institute, which is home to a beloved Diego Rivera mural, has been sold to a new nonprofit organization led by the philanthropist Laurene Powell Jobs.
The nonprofit, made up of local arts leaders and supporters including Powell Jobs, the widow of the Apple co-founder Steve Jobs, bought the campus — which has been plagued by debt — through a limited liability company, for about $30 million.
The sale, reported earlier in The San Francisco Chronicle, includes “The Making of a Fresco Showing the Building of a City,” a 1931 mural by Rivera, which has been valued at $50 million and will remain in a viewing room.
The former school will house an unaccredited institution that will include a residency program where artists can “develop their work and show their work,” said David Stull, the president of the San Francisco Conservatory of Music, who is a member of the new nonprofit organization’s advisory committee.
He described the new center “as a platform for supporting artists and creating a center for the community around art.”
Persons:
Diego Rivera, Laurene Powell Jobs, Powell Jobs, Steve Jobs, Rivera, ”, David Stull
Organizations:
San Francisco Art Institute, Apple, San Francisco Chronicle, San Francisco Conservatory of Music
Locations:
City, ”