The Newseum’s sleek, glass building at 555 Pennsylvania Avenue Northwest will soon be under new ownership. Johns Hopkins University has purchased the building for $372.5 million from the Freedom Forum, the museum’s creator and primary funder.

The museum will look for a new, presumably more modest home in the Washington region. It has been struggling with budget deficits for years.

Johns Hopkins plans to significantly renovate the building and recast it as its academic hub in the nation’s capital.

“The renovated building will provide opportunities for every academic division of the university to pursue research and educational activities in Washington,” said Johns Hopkins President Ronald J. Daniels in a statement announcing the sale on Friday.

The First Amendment-focused Newseum moved to its resplendent Pennsylvania Avenue location in 2008. The seven-story building features a 74-foot-high marble engraving of the First Amendment, a terrace with soaring views of the U.S. Capitol, and street-level displays of newspapers from every state.

More than 800,000 people visit the Newseum each year, according to the Freedom Forum. They come even though they have to pay to enter — unlike at the free Smithsonian institutions nearby. Still, those numbers weren’t enough to make the venture financially stable.

In 2017, the Freedom Forum hired consultants to conduct a top-to-bottom financial review. Then, last winter, it announced it was considering selling the building.

The sale was made possible through the sale of Johns Hopkins’ existing D.C. properties on Massachusetts Avenue Northwest, along with university funds and philanthropic support.

“We are excited about this chance to deepen our connection with the District and enthusiastic about becoming part of the Penn Quarter neighborhood – creating jobs and further contributing to the vitality of Pennsylvania Avenue,” Daniels said. He plans to work with D.C. Mayor Muriel Bowser, the D.C. Council and community groups “to make this project a reality.” The sale is still subject to regulatory approval.

This story originally appeared on WAMU.