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Campus of Closed Southern Vermont College Bought by Healthcare Organization

Campus of Closed Southern Vermont College Bought by Healthcare Organization

“For this to work, the town will need to support the SVHC effort at many levels, both logistically and possibly even financially.”

Southern Vermont College closed in the spring of 2019. At least the property is being used for something worthwhile.

The Bennington Banner reports:

SVC campus sale now official

Southwestern Vermont Health Care’s purchase of the 371-acre former Southern Vermont College campus has been finalized.

SVHC, the corporate parent of Southwestern Vermont Medical Center, acquired the campus and buildings for $4.65 million.

Spokesperson Ashley Jowett said the closing occurred on Wednesday as planned.

The health care organization had earlier entered the highest bid for the property during a Dec. 11 hearing in U.S. Bankruptcy Court-Vermont Division.

“SVHC and the SVC property are connected geographically as neighbors and through our history,” said Thomas Dee, president and CEO of SVHC. “We are eager to partner with the town and others to maintain and enhance the importance and value of this tremendous community asset.”

“Bennington is extremely fortunate to have SVHC purchasing the former SVC campus but this ‘closing’ is only a beginning,” said Donald Campbell, chair of the Bennington Select Board.

“For this to work, the town will need to support the SVHC effort at many levels, both logistically and possibly even financially. They have taken all the risk, now we need to help them toward great community outcomes,” he said.

“I am very happy that SVC is under responsible ownership once again,” said Town Manager Stuart Hurd. “It is my understanding that SVHC is looking forward to working with the community to determine how best to bring the entire property into beneficial and productive use. I look forward to the work ahead. This is one of the truly good news stories of 2020.”

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Comments

So now buying some very nice real estate at a bankruptcy auction is seen as something the community has to keep supporting in the future? Does the community get a share of any profits?

We’ll see more of this as the political lockdowns continue and the least viable colleges drop out. Survival of the fittest. So be it.
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