"We looked at the campus, and decided we won't need it for college buildings in the forseeable future," says Adelard H. Raby III, vice president for business services for Schoolcraft. "So, rather than have it sit fallow, we thought we'd make it a productive asset."
The college would continue to own the land, and lease the property to a developer at $329,000 per acre. The college board of trustees has two decisions to make by this fall, Raby tells GlobeSt.com.
"Well, they need to decide if they want to proceed with any land development at all, and if so, to choose one of the four to participate with," he says.
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