The University of San Francisco is planning to expand its campus, with the recent purchase of a 1.5-acre site along Masonic Avenue. According to public records, the property, which is home to a former 80,000 square-foot blood bank, was sold to the University for $31 million, or about $388 per square foot.
The property is located at 250-270 Masonic Avenue and was sold to the university by nonprofit organization Vitalant Blood Systems Inc., after months of discussion. The property was previously the Blood Centers of the Pacific, which operated as a research institute and blood bank prior to the sale.
The property is located near the corner of Masonic Avenue and Turk Boulevard, conveniently situated adjacent to USF’s main campus. Currently 55 acres, the main campus will be able to expand with the university’s recent acquisition. According to USF, the space will be revitalized to serve the university with specialized laboratories and other learning spaces.
In March, the university announced plans to acquire the asset in a campus-wide letter. According to the letter, USF began discussions to purchase the property in 2012, continuing on and off.
“This acquisition would expand the university’s footprint and access to much-needed academic space, and advance USF’s collaborative, innovative, and interdisciplinary learning and research in the sciences, health professions, and, in particular, the health sciences. It would also allow us to reduce the space constraints on our Hilltop Campus,” Paul Fitzgerald, President of USF, said in the letter at the time.
Now that the property has been acquired, the university is anticipating renovations to be completed some time in 2023.