PITTSBURGH — Point Park University has bought the building that housed a landmark sporting goods store in downtown Pittsburgh for $1.1 million as part of a project to relocate the school’s Pittsburgh Playhouse.

Point Park closed Monday on the purchase of the Honus Wagner Co. building on Forbes Avenue. The Pittsburgh Pirates Hall of Famer opened the store in 1918 and sold it to the Shapiro family 10 years later. It has been located in the same building for 59 years, until the Shapiros decided to close the business earlier this year.

Point Park has bought parcels near the building and eventually plans to build a new playhouse complex with three theaters, teaching areas, a residence hall and retail space.