Shuttered college campuses hit the market [View all]
If you’re looking for a bucolic property complete with historic buildings, a full suite of athletic facilities, and enough beds to sleep hundreds – you’re in luck.
A spate of college closures across New England, including three in Vermont, means prospective buyers with those criteria have options.
At Southern Vermont College in Bennington, a listing says amenities include an English country house-style mansion with views on Mount Anthony, walking distance to the Southwestern Vermont Medical Center, and five dormitory halls. At Green Mountain College in Poultney, selling points include a carbon neutral campus, working farm, and a 30-minute drive to the Rutland regional airport. (The third college to close this year, the College of St. Joseph, is not on the market, although its leaders have sold off pieces of properties in recent years.)
But the campuses have their sticking points, too. Green Mountain College carries close to $20 million in debt with the USDA. Southern Vermont College is millions of dollars in debt, too – though far less than Green Mountain – and is facing two separate suits from former donors. The Vermont Land Trust also holds permanent conservation easements on large swaths of land owned by both colleges which preserve public access.
Read more: https://vtdigger.org/2019/06/30/shuttered-college-campuses-hit-the-market/
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