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The pending sale of Goddard College’s campus has been called off after the buyers were unable to secure finances to complete the acquisition, Seven Days reported.
Goddard, located in Vermont, closed abruptly in April after years of financial struggles, citing inflationary pressures, shifting demographics and enrollment losses. At the time of its closure, Goddard enrolled 220 students, only about half as many as in 2014, according to federal data.
In August, Goddard announced that it had a buyer for the campus. The Greatwood Project, the group that planned to purchase the campus, was set to buy the property for $3.2 million but fell short by $250,000 when an investor backed out, Seven Days reported. Despite the setback, trustees said, other prospective buyers are interested.
Last month, more than 1,200 miles away, another defunct institution had better luck in unloading its campus: Miles College announced an agreement to purchase the Birmingham-Southern College site after BSC closed abruptly this spring due to financial and enrollment challenges.
