(Host) The University of Vermont is set to buy property owned by Trinity College of Vermont. The UVM Board of Trustees Monday agreed to sign a purchase and sale agreement with Trinity College, located on Colchester Avenue in Burlington. UVM will pay $14.3 million for the entire campus property, which includes 17 buildings on 21 acres. Daniel Fogel is president of UVM:
(Fogel) “We see this property as an essential element in UVM’s investment in excellence. It is a logical and sensible use of the property, and moreover a once-in-a century opportunity for the University of Vermont.”
(Host) A detailed plan for the use of the property is being prepared. Possible uses include relocation of offices, classroom space and housing, and continued use of existing housing and child care facilities. The University also hopes to renew leases with current tenants, including Fletcher Allen Health Care.
Trinity College had been sponsored by Sisters of Mercy in Vermont since 1925, until it closed its doors two years ago.
Closing on the sale is expected by the end of the year.