Founded by artist Philip Trachtman in 1971, the college was acquired by Education Management Corporation in 1979. The Art Institute of Philadelphia occupies 1622 Chestnut Street, a building originally designed in 1928 as the CBS flagship radio station affiliate. Designated as a historical site by the Philadelphia Historical Commission, the Art Deco building became home to the college in 1982. Today, The Art Institute has additional academic facilities at 1610, 1510 and 1530 Chestnut Street and 2300 Market Street.