San Francisco Art Institute Headquarters Sold to Group Led by Laurene Powell Jobs

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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.”