Washington University’s investment venture’s in the Delmar Loop took a step forward Monday after it acquired another building there.
The university acquired the property at 6640-54 Delmar and the parking lot adjacent to the building for about $1.5 million. The building will house the Craft Alliance Education Center. The properties had a combined appraised value of about $600,000.
Washington University, in a statement, said the university views the property as a long-term hold asset.
Washington University has put more than $80 million into the Delmar Loop area as of late, opening The Lofts of Washington University, a mixed-use development, in 2014.
The university has also assembled about 20 acres near the university’s North Campus.