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Ave Maria sells campus holdings in Michigan
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Ave Maria University divested itself of its Michigan campus holdings with the closing of a $1.325 million deal this week, the university’s chief financial officer said.
Ave Maria College, which is now a subsidiary of Ave Maria University, sold a primary campus structure and the former president’s house in Ypsilanti, Mich., to an online company that processes school pictures.
“We’re glad that it came to closure,” University CFO Paul Roney said.
The only property Ave Maria now owns at the former site is one home that was used for employee housing, Roney said. That property is also on the market.
Ave Maria College began in 1998 in Ypsilanti and was the first location for founder and Domino’s Pizza magnate Tom Monaghan’s plans for a Catholic university.
Monaghan transferred the project to Southwest Florida in 2002 after Ann Arbor, Mich., government officials rejected plans to move the college there. Ave Maria College ceased operations at the end of last fiscal year and became a subsidiary company of the university.
The sale was first reported by Michigan news Web site, YpsiNews.com.
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Does this mean the empty buildings sitting in the Vineyards can now become a law school?
Does this mean he'll build the monster-sized, gigormous cross at Ave Maria?
CC planners long hiking trail to nowhere...or should I say Immokalee to gamble may be built now?
What about students....will there be more scholarships for this barely there accreditation school? We're almost there....no...we're not...we are...we're not...federal aid...no..I mean yes..NO....oh we have some type of wannabe accreditation....no we thought we did.....oh YES, thank God we do.
With gas prices and the economy, this town has to be hurting out there.
#1 Posted by beetlejuice on July 15, 2008 at 8:59 p.m. (Suggest removal)
Beetlejuice, why so hateful about a town, which I assume, you don't even live in? Are you throwing a tantrum because you didn't think of the idea first?
The buildings in the Vineyards have already been designated to be used by the law school, the article was in the paper weeks ago.
Hiking trails to "nowhere", or to Immokalee to gamble, have nothing to do with the sale of property in Michigan.
I live in Ave and sorry, the town is not hurting any more than any other part of Collier County.
#2 Posted by GatorBite on July 16, 2008 at 9:46 a.m. (Suggest removal)
No beetle, we are not hurting out here, you assume incorrectly.
#3 Posted by amused on July 16, 2008 at 10:08 a.m. (Suggest removal)
Hurting? Sorry to burst your bubble but I work from home and a tank of gas (in our fuel-efficient Toyota) can last us over two weeks! We are doing just fine, thank you. The university is growing, a fourth dorm is almost complete, and 350 additional students will arrive for the fall semester. Another new business (Tropical Smoothies) will soon open at the Piazza, and both the gas station/convenience store and new Publix are under construction. My wife and I have seen the hand of God in our decision to move from Northwest Florida to Ave Maria, quickly selling our old house in a very bad market. And why not recall Our Lord's sacrifice with a giant crucifix? It's a more worthy tribute than the giant statue of General Sherman across from the Plaza Hotel in New York, in honor of a man who ordered the destruction of thousands of innocent civilians' homes across Georgia.
#4 Posted by warrenmass on July 16, 2008 at 12:31 p.m. (Suggest removal)
The band played on while the Titanic sank, too.
#5 Posted by monkey_on_the_lamb on July 16, 2008 at 6:54 p.m. (Suggest removal)
For Sale Kool Aid at your local Ave Maria grocery.
#6 Posted by kneejerk on July 16, 2008 at 8:51 p.m. (Suggest removal)
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