Moore College of Art and Design recently purchased a Rittenhouse Square hotel for $11.5 million, which will see the school expand, writes Ryan Mulligan for the Philadelphia Business Journal.
The college is planning to transform the hotel into a residence hall, allowing it to expand Moore College’s student housing stock by 33 percent.
“When this building came up, it just could not be more ideal for us,” Moore College President Cathy Young said. “It’s about a seven minute walk from our campus, it’s absolutely beautiful, it’s in the Rittenhouse neighborhood in Center City where I think any college student would be thrilled to live. And it’s also the right size for us.”
The building will be renamed Rittenhouse Hall by Moore and be used primarily by juniors and seniors.
While Moore College has normally kept its student base at around 400, the respective closures of University of the Arts and the Delaware College of Art and Design last year led to about 130 additional students.
Young, however, noted that the hotel acquisition isn’t in direct response to the added students. It was more about the increased demand for housing that has existed for several years.
Moore College will officially take over the building on July 1.
Read more about Moore College’s new acquisition and how it will impact students in the Philadelphia Business Journal.
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