The massive red brick neo-gothic structure on the edge of the Esplanāde Park was originally built as a business school in 1905 and was meant to reflect the wealth and power of the old Hanseatic League, but its commercial function was short-lived. The Latvian Academy of Art was founded by the nation’s preeminent painter Vilhelms Purvītis (1872 - 1945) in 1919 and it began teaching students in this building in 1921. You can visit the building to take a look at its stunning art nouveau stained glass windows or to check out one of the frequent exhibitions held here by its students. An annual art fair including works by students and faculty called Jarmarka is held here every December.