Quincy Housing Authority Nonprofit to Buy Closed Eastern Nazarene College Campus for $21 Million
The nonprofit arm of the Quincy Housing Authority has agreed to buy the closed Eastern Nazarene College campus — 27 acres — for $21 million, with plans to redevelop it as low-density housing while preserving the campus green space. The plan was announced at a residents' meeting held on the campus lawn on Oct. 17, where Quincy Mayor Tom Koch and Housing Authority Executive Director James Marathas presented the proposal.
Koch said the project aims to put Quincy residents first, with the new homes aimed mainly at local families. The buyer is the Quincy Housing Development Corporation, the authority's nonprofit development arm. The deal still requires completion of due diligence and approval from the Massachusetts attorney general before closing. After the college closed, its academic programs were taken over by Mount Vernon Nazarene University in Ohio, and proceeds from the campus sale will be used to pay down the college's debts.
Published by GSM · USA (original Chinese edition)
Photo: 图：东拿撒勒学院校园建筑（资料图）。照片：Wikimedia Commons（公有领域）。An Eastern Nazarene College campus building (file photo). Photo via Wikimedia Commons (public domain).
