Golden Gate University has sold its downtown San Francisco campus for $31.6 million, and the property’s new owner plans to turn the site into skyscraper.
SFGate reports Dallas-based Lincoln Property Company acquired the seven-story, 236,800-square-foot campus from the privately-owned school, which has been trying to sell the property since 2023. The new owner has proposed replacing the campus with either a 700-foot-tall office building or a 650-foot-tall mixed-use structure with offices and residential units.
The 8,000-student university has relocated its classes from the downtown campus to its Academic Village at UC Law San Francisco and its Lake Merced satellite campus at San Francisco State University. The university has operated in San Francisco for more than 170 years but has struggled financially for years and nearly faced bankruptcy in 2023. The school received a $21.9 million loan from Lincoln Property Company last year to help pay off its debt.
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