A photo of Birmingham-Southern College’s campus. Miles College enters purchase agreement for the school. (Birmingham-Southern College Communications Department)
Miles College has entered a purchase agreement for the campus of Birmingham-Southern College, which shut down earlier this year.
“It is clear that institutions like Miles College continue to serve as powerful engines of economic growth and opportunity,” Miles College President Bobbie Knight said in a statement. “For generations, Miles College has been a cornerstone of progress in our community. This opportunity is a significant next step in our vision to lift our college, campus, and community.”
The release did not disclose a purchase price.
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Birmingham-Southern College, a liberal arts college with roots going back to the 1850s, announced its closure last spring after an attempt to obtain a loan from the state did not come to fruition. Miles and BSC said in June that they had started negotiations over the property.
Miles said in its Wednesday statement that the purchase “will allow academic programs, research, and innovation to thrive in a collaborative environment with local and global partnerships.”
“The purchase agreement is for the physical property – acreage and buildings – but not the college itself,” wrote BSC President Daniel B. Coleman in the release. “BSC will continue to operate as a corporate entity through the remainder of the wind-down, which includes wrapping up a range of business matters.”
Miles College is a Historically Black College or University (HBCU) which claims an enrollment of 1,500 students. The release did not say when the school plans to move into the property.
After the sale is complete, BSC will work with the attorney general’s office to develop a proposed plan for the college endowment and to seek court approval of that plan.
“We expect that process will take many months or even years to complete, and we will communicate with our endowment contacts once we know more,” wrote Coleman.
BSC’s campus will remain closed to visitors until further notice, the release said.
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