The agreement provides many benefits to the community. Academy of Art University will provide 160 units of new affordable housing for low income residents in Lower Nob Hill, by converting one of its student dormitories and building a new housing project on an adjacent lot. Both sites together are valued at $36 million. The Academy will also contribute $20 million in cash payments to the City, including development impact fees, civil penalties for past violations, City staff time, and $7 million for the City's Small Sites Program, which protects vulnerable tenants from evictions and rent increases.
Jim Brosnahan, one of the lawyers from Morrison & Foerster representing Academy of Art University said, "This agreement allows the school, together with the Planning Commission, to arrange future land use planning for Academy of Art University's urban campus, including the provision of appropriate housing and transportation to meet student needs without adverse impacts to the City. It also should give comfort to students and faculty that the sometimes cantankerous issues are in the past."
Academy of Art University is the largest private accredited art and design university in the nation. It offers accredited AA, BA, BFA, BS, B.Arch, MA, MFA, and M.Arch degree programs in more than 30 areas of study, including fashion and automotive restoration, as well as continuing art education, pre-college art experience programs, professional development, certificates, and teacher grants. The Academy and its students and alumni have received numerous national awards and accolades since the university was founded in San Francisco in 1929, and student and alumni artwork is exhibited in over 70 shows in San Francisco each year. The Academy enrolls 8,700 students and employs 2,000 working artists and staff in San Francisco, and also has a thriving online degree program with students around the world. Academy of Art University is an accredited member of WSCUC, NASAD, CIDA (BFA-IAD, MFA-IAD), NAAB (B.ARCH., M.ARCH.) and CTC (California Teacher Credential).
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SOURCE Academy of Art University