The original campus of the College of Saint Rose has been sold.
The Albany County Land Authority won the bid for the site, according to a statement made by County Executive Dan McCoy on Thursday. It was a $35 million bid.
This is an investment in our community’s future, not just a piece of real estate. According to a statement from McCoy, “by securing this property, we are serving the best interests of Albany County and maintaining the assessed value and integrity of the surrounding neighborhoods.”
The bankruptcy court must now give its final permission to the proposal.
Due to financial difficulties, the 104-year-old college closed early this year, as reported by NewsChannel 13.