Washington University purchases building in Delmar Loop

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.

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