After announcing its closing in May, Birmingham-Southern College (BSC) is still in search of a buyer.
Despite interest from neighboring Alabama colleges like Alabama A&M University and Miles College, BSC’s future when it comes to buyers currently does not look too promising. According to a report by 1819 News, the school turned down a “lowball” offer of $65 million from A&M, which would have officially made it an HBCU. On the other hand, it signed a Letter of Intent with Miles College. However, the college could not find the funds to fulfill the purchase.
Launched as a Methodist institution just a year after its inception in 1856 as Southern University, the institution officially became Birmingham-Southern College when it merged with Birmingham College in 1918. The school is affectionately known as The Hilltop, due to its location overlooking the city of Birmingham.
Citing financial woes, BSC’s official last day of operation was May 31, 2024. However, the school’s last President, Daniel B. Coleman, has a vision of the institution’s campus continuing to be useful for Birmingham. The campus is currently home to dozens of administrative and classroom buildings, residence halls, and an apartment complex equipped with a pool, a lake, and playing fields.
“As the anchor tenant of this part of the city, BSC has provided stability, security, and service to our neighbors in Bush Hills, College Hills, and Smithfield, and vice versa for more than a century,” read a statement on the school’s website. “With millions of federal dollars on the way to create affordable housing and a more visible and attractive pathway between downtown and the west, such a large property being left vacant for any length of time is a huge setback to the neighborhoods that surround it.”
According to ABC 33/40 , the Alabama institution tapped Keen-Summit Capital Partners LLC to help market the sale of its campus nationally in early August. The New York real estate company currently operates out of the city’s Manhattan and Melville neighborhoods and also has offices in Chicago. It specializes in bankruptcies, special situations, receiverships, and restructurings.
“This is the premier college campus available for sale in the U.S. right now,” said Managing Director of Keen-Summit Capital Partners LLC David Levy. “It would be perfect for a college or university looking to expand or establish a satellite medical, technology, life science, or other specialty campus. Alabama’s thriving sports culture also makes this campus an ideal fit for a world-class sports academy and boarding school. “With its state-of-the-art athletic facilities, warm weather location, and housing for about 1,600 students, this location is tailor-made for such an institution.”
Until a buyer confirms the sale of BSC, security officers will monitor the campus to ensure that it remains vacant.
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