The nonprofit Hutton Foundation has purchased the Anacota building in downtown Santa Barbara to help Antioch University expand, foundation Executive Director Pam Hamlin said.
The $11.5 million purchase means the campus, currently located on 801 Garden St., will move to the corner of Cota and Anacapa streets.
The foundation often buys buildings for nonprofits to provide a sustainable and secure base with a low rent, according to Hamlin, who described it as a win-win situation for the university and community. The rent will be used to supply grants for other nonprofits and benefit the community.
Arch Rock Fish, which occupies a lower section of the building, will stay put, but the rest of the month-to-month tenants on the lower floor will have to move within 60 days, Hamlin said. The transition will take about six months without interrupting classes, and she said the campus will add 8,000 square feet of space in its new home.
Antioch University is known for its small class sizes and interactive classes, serving 4,000 students on five campuses throughout the nation. The average student is 35 years old, and the majority of students receive financial aid, according to its Web site.
— Noozhawk staff writer Alex Kacik can be reached at akacik@noozhawk.com. Follow Noozhawk on Twitter: @noozhawk or @NoozhawkNews. Become a fan of Noozhawk on Facebook.