Azhley Rodriguez
Staff Writer
Dominican University and Fenwick High School and have entered a sale and purchase agreement as of Friday, Dec 3.
President Glena Temple said the conversation to sell Priory campus has been an ongoing topic for the past few years, but it was the students’ desires for more online classes that helped make the final decision.
“The shift and interest of our students for more online education options meant we don’t see that we’ll need that extra space going forward,” Temple said. “We’re trying to be good stewards of our resources.”
Temple is unable to disclose the price tag the Priory was sold for, but according to an article in the Wednesday Journal, “an initial appraisal of the site by Jones Lang LaSalle put an $8 million price tag on the property … But the market will determine its value.”
The Goedert Center will remain open in an extended lease because Temple knows “families depend on it for childcare.”
Although the Priory had been an asset to Dominican University since it was purchased from the Dominican Friars religious order in 2002, attendance in the programs housed there has declined.
According to Mark Titzer, vice president of finance and administration and treasurer, “Bonds were issued in 2002 to purchase the property. These bonds were subsequently refinanced/repackaged in 2006, 2009 and 2014. We are working with our bond counsel to determine whether and how much of the current outstanding bonds are attributable to the Priory.”
Temple says she hopes for more partnerships with Fenwick after the sale becomes finalized.
“We have also signed an MOU (a memorandum of understanding) with Fenwick to try and do more collaborations since they are a Dominican institution,” Temple said.
For now, the Priory remains closed to visitors, but the potential of a good-bye celebration is possible in the future.
“I’m happy for the future of Dominican” Temple said. “We have some steps still to navigate but I know it’s the right decision for now and the future of where we are headed as an institution.”
arodriguez2@my.dom.edu
