Created: Thu, 02 Jan 2014 04:16:06 EST
Updated: Thu, 02 Jan 2014 04:16:06 EST
ATLANTA (AP) — The Woodruff Arts Center in Atlanta says it has agreed to sell the 14th Street Playhouse to the Savannah College of Art and Design.
The organizations said in a news release Thursday that the Woodruff Arts Center is selling the playhouse to the school and to The Community Foundation for Greater Atlanta for $1.9 million.
The release says the expansion will especially complement SCAD's M.A. and M.F.A. film and television degree programs, which began in Atlanta in 2013.
The Woodruff Arts Center plans to invest the proceeds from the sale in the arts in Atlanta, including giving $1 million to The Community Foundation for Greater Atlanta. The foundation plans to create a new fund to serve performing arts organizations, particularly theater and dance companies.