A Philadelphia university, located in the heart of the city, revealed on Friday its plans to close and cease operations.
The University of the Arts, a private arts institution and one of the nation’s oldest dedicated to arts and music education, announced that June 7 would be its final day, as reported by the Philadelphia Inquirer. This unexpected decision surprised faculty and staff, especially since students had already been admitted for the freshman class set to begin in Fall 2024.
No specific reason was provided for the sudden shutdown, with officials merely citing an undisclosed “urgent” financial crisis, according to the Philadelphia Inquirer.
“Under extraordinary circumstances, we diligently assessed the urgent crisis presented and pathways to keep the institution open,” stated the board of the University of the Arts. “Despite our best efforts, we could not ultimately identify a viable path for the institution to remain open and in the service of its mission.”
The announcement of the closure was preluded by the Middle States Commission on Higher Education, which disclosed it had revoked the university’s accreditation effective June 1.
The university’s financial standing had declined significantly over the years, partly due to decreasing student enrollments. In the past decade, the school saw a 44% drop in enrollment, with only 1,149 students attending last year, a number smaller than many high schools in the Philadelphia area.
“With a cash position that has steadily weakened, we could not cover significant, unanticipated expenses,” the school’s statement read. “The situation came to light very suddenly. Despite swift action, we were unable to bridge the necessary gaps.”
On Sunday, the school announced it would conduct a virtual meeting about the closure on June 3 at 4 p.m. The aim of the meeting is “to share information about UArts’ imminent closure and to address some of the important questions we know you have.”
The closure also leaves a substantial vacancy in Philadelphia’s Center City area. Just under a mile south of the mayor’s office, the city’s “Avenue of the Arts” section on Broad Street, which included many University of the Arts buildings, will be significantly impacted. According to the Philadelphia Inquirer, the school owned approximately $94 million in real estate.
Several city council members expressed anger and shock at the university’s decision to close. Yet, at least one saw a glimmer of hope, suggesting that the school might be saved through innovative and unconventional solutions.
“As a Philadelphia treasure, we want to look at all options available to us to see how we can help, and to see if we can partner with other providers to keep the school open,” City Councilmember Mark Squilla said.
