As a plugged-in tipster catches, according to Andy Graiser, co-president of DJM Realty, a “big not for profit real estate art company in San Francisco” has expressed early interest in taking over at least one of Borders’ leases in San Francisco.
∙ Graiser Says Border’s Retail Spaces Attracting Interest [youtube.com]
OMG… not another busstop!!!
More Art College galleries
MOMA? Noooo.
Maybe they should start expanding their real estate empire into SROs to house the graduates who can’t land a job and are bankrupted by their student loans?
Nooooo, say it isn’t the AoA! I’m so sick of seeing them ALL OVER the city!
It would be interesting to see recent statistics on the fate of graduates. Graphic artists who can produce reasonable work on deadline schedules are seeing strong hiring at this point since all manner of media need them. This strange sector seems to be one of the relative winners of this mostly jobless recovery. Meanwhile, California continues to graduate several thousand more lawyers each year than are hired. Which graduate glut is more pernicious?
You have GOT to be kidding me!! Where the hell do they get their money from?!
If only lawyers could be taught to draw for half the money, the world would certainly be more…. colorful.
Mole Man, operating a law school is extremely bottom-line enhancing for whatever institution is doing the operating. From the New York Times, Law School Economics: Ka-Ching!:
The polar opposite is dental schools, they lose so much money that the country as a whole is losing them.
It is not at all cheap to attend AoA. If it weren’t for guaranteed student loans, I’m sure they wouldn’t be making so much money that they have to throw it around in the real estate market (if indeed that’s who we are talking about here).
“Where the hell do they get their money from?”
Student loans.
It is one of the academy’s open secrets: law schools toss off so much cash they are sometimes required to hand over as much as 30 percent of their revenue to universities, to subsidize less profitable fields.
Yes, this is well known. UC undergrad tuition, for example, has barely gone up, but UC law school tuition (and med school and business school) has gone way up and subsidizes the rest of campus. I believe UVa and UMich did this a while ago, so UC was just catching up with other elite schools.
In contrast, programs like nursing have only made nominal increases in tuition because we have a nurse shortage and the economics don’t make sense.
The economics don’t make sense for non-good school lawyers either, but it takes a while for people to figure that out, and by that time they’ve graduated. 🙂
“Starving artist” didn’t come from nowhere. Never ceases to amaze me how many suckers AoA lures year after year.
Yeah, and new lawyers/law students don’t realize that having a JD behind your name does not guarantee a job. I know someone who did not go to a top-tier law school, and she was working as a recruiter, then in sales, couldn’t even make rent, asked dad for rent money, then got laid off from the sales job. Talk about a rude awakening for these lawyer and wannabes. Tons of law school debt with no guaranteed ROI. Any idiot could be a (starving) lawyer, but not any lawyer could be a good/great lawyer, where only a few make bank.
UC undergrad tuition has barely gone up? It’s gone up 1000% in the last 20 years, including a 17.6% increase this autumn. That hardly qualifies as “barely.”
This cannot be Academy of Art, because they are for profit. Anyone know who this might actually be?
As an aside, it is always amazing to me what this private for-profit company (AoA) is able to get away with in this city, that other job-creating companies cannot. Permit violations from AoA get a slap on the wrist, but the BoS threatens to throw the book at other companies
UC undergrad tuition has barely gone up? It’s gone up 1000% in the last 20 years, including a 17.6% increase this autumn. That hardly qualifies as “barely.”
You are suggesting that UC tuition in 2011 is 11 times what it was in 1991? 1000% isn’t plausible.
Look at 1994 to 2002:
http://www.data360.org/dataset.aspx?Data_Set_Id=9330
For the period from 2007 to estimated 2011-2012, the data is here:
http://www.lao.ca.gov/analysis/2011/highered/hed_budget_in_context_011911.pdf
I believe the actual number for 2011-2012 is very close to the number at that link — $3740/quarter for quarter system schools, or $11,220.
That’s 380%, still no picnic. UC has ramped up the increases for undergrad since 2008 because it already used the subsidies from law, med, business since 2002, and I didn’t realize it had gone up so much since then — the last time I checked was 2008 or so when it was around $7K.
If you look at undergrad since 2002, it has gone $3900 to $11,220 in that time. Look at UC law school tuition in the meantime. In 2002, it was about $12,000, and now it’s more than $46K at Berkeley:
http://lawschooltuitionbubble.wordpress.com/2011/01/22/the-law-school-tuition-bubble-data-tuition-increases-law-school-by-law-school-from-2005-to-2011/
http://registrar.berkeley.edu/Default.aspx?PageID=feesched.html
UC med schools are similar, although slightly less steep increases since then: $10,710 in 2002 for UCLA vs. $32.9K for 1st/2nd year and $36.7K for 3rd/4th year at UCSF, and a little over $30K for most years at UCLA, but slightly more for 3rd year:
http://www.education.com/reference/article/college-saving-professional-studies/?page=2
http://finaid.ucsf.edu/application-process/student-budget
http://www.medstudent.ucla.edu/offices/fao/budget.cfm
So the full story is that undergrad tuition has gone way up in the last 3-4 years, but that was only after law school, med school, and business school got hosed for several years, and the state’s budget still didn’t get better. My guess is that the professional schools are almost private by now (i.e. low state funding).