san francisco art institute closed 2148604

The San Francisco Art Institute (SFAI), a historic art school founded in 1871, permanently closed on July 15 after the University of San Francisco (USF) withdrew from a proposed acquisition deal. USF cited financial risks, low enrollment projections, and deferred maintenance as reasons for backing out. SFAI will continue as a small nonprofit to protect its archives and legacy, but the fate of its prized Diego Rivera fresco, valued at up to $50 million, remains uncertain.