{"id":8683,"date":"2022-10-18T21:06:13","date_gmt":"2022-10-18T21:06:13","guid":{"rendered":"https:\/\/www.luthersem.edu\/news\/?p=8683"},"modified":"2023-06-26T21:32:00","modified_gmt":"2023-06-26T21:32:00","slug":"luther-seminary-moves-forward-with-new-partners-to-develop-the-lower-campus","status":"publish","type":"post","link":"https:\/\/www.luthersem.edu\/news\/2022\/10\/18\/luther-seminary-moves-forward-with-new-partners-to-develop-the-lower-campus\/","title":{"rendered":"Luther Seminary Moves Forward with New Partners to Develop the Lower Campus"},"content":{"rendered":"

With approval from the Board of Directors, Luther Seminary is moving forward with new partners to develop the lower campus.<\/span><\/p>\n

The Board has approved two separate transactions. Last month, the seminary entered an agreement to sell a portion of the lower campus, excluding Northwestern Hall and Breck Woods, to United Properties. United Properties is exploring a multi-family housing development on this St. Paul property. At its October meeting, the Board approved a separate agreement with a local educational nonprofit considering Northwestern Hall for use as offices and program space. At this time, there is no activity associated with the Lauderdale property, including Breck Woods, although the seminary still intends to sell this parcel in the future.<\/span>\u00a0<\/span><\/p>\n

Both agreements require an extended due diligence period, which will take place over the coming months. While closings are currently anticipated in summer 2023, the timeline may be subject to change for either or both transactions. Closing dates will be scheduled so that there is no disruption to current lease agreements for student renters in LDR Apartments.<\/span><\/p>\n

The Board approved a future sale of the lower campus in May 2018 as part of an overall campus redesign. Any proceeds from the sale will be reinvested to support the seminary\u2019s mission to educate leaders for Christian communities called and sent by the Holy Spirit to witness to salvation through Jesus Christ and to serve in God\u2019s world.<\/span><\/p>\n

Luther community members with questions may contact Michael Morrow at <\/span>mmorrow001@luthersem.edu<\/span><\/a>. Please direct any external or media inquiries to Rachel Farris at <\/span>farrisr@augsburg.edu<\/span><\/a>.\u00a0<\/span><\/p>\n

\n

Update as of June 2023<\/h4>\n

The due diligence period for the United Properties agreement has been extended into 2024, not summer 2023 as originally noted. In addition, the offer from a local educational nonprofit to purchase Northwestern Hall has been withdrawn. The seminary continues to seek a redevelopment partner for this parcel.<\/p>\n","protected":false},"excerpt":{"rendered":"

With approval from the Board of Directors, Luther Seminary is moving forward with new partners to develop the lower campus. The Board has approved two separate transactions. Last month, the seminary entered an agreement to sell a portion of the lower campus, excluding Northwestern Hall and Breck Woods, to United Properties. United Properties is exploring […]<\/p>\n","protected":false},"author":3253,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[3],"tags":[],"class_list":{"0":"post-8683","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-news-releases","7":"entry"},"acf":[],"yoast_head":"\nLuther Seminary Moves Forward with New Partners to Develop the Lower Campus - Luther Seminary<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.luthersem.edu\/news\/2022\/10\/18\/luther-seminary-moves-forward-with-new-partners-to-develop-the-lower-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Luther Seminary Moves Forward with New Partners to Develop the Lower Campus - Luther Seminary\" \/>\n<meta property=\"og:description\" content=\"With approval from the Board of Directors, Luther Seminary is moving forward with new partners to develop the lower campus. 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