Saint Charles Borromeo Seminary is buying part of Gwynedd Mercy University’s campus and relocating there in an agreement between two Philadelphia-area Roman Catholic institutions.

The seminary will spend $10 million to buy a piece of land that includes two buildings, creating a 15-acre campus for itself, The Philadelphia Inquirer reported. The Maguire Foundation, a private foundation that focuses on education and Roman Catholic institutions, is donating $3 million to Gwynedd Mercy as part of the arrangement, which the seminary’s rector said is not a merger.

Plans call for the move to be finished before the 2024-25 academic year. They would bring to an end a multiyear effort to reduce the amount of land the seminary is using. The seminary sold its campus to a hospital system for $43.5 million in 2019, arranging to lease the property back for as many as five years, the Inquirer reported.

Just under 150 seminarians studied at Saint Charles Borromeo Seminary at the start of this spring semester. Gwynedd Mercy enrolled slightly fewer than 3,000 students at the start of the 2019-20 academic year. Gwynedd Mercy’s campus totals more than 300 acres.

The two institutions’ campuses are currently about 20 miles apart by automobile.



Source link