ALBANY, N.Y. (NEWS10) -- The Albany County Pine Hills Land Authority's bid to acquire the College of Saint Rose's campus has been accepted, according to a statement by Albany County Executive Daniel McCoy. The submitted bid was reportedly for $35 million.
"This is an exciting moment, and we are looking forward to the final approval by the bankruptcy court. This is more than an investment in land, it is an investment in the future of our community. By securing this property, we are preserving the assessed value and integrity of the surrounding neighborhoods and serving the best interests of Albany County," said McCoy. "I would like to thank the Pine Hills Land Authority Board and my staff for their work on this. I also want to recognize the State Senate and Majority Leader, the State Assembly and Speaker, and the Governor for authorizing the legislation that I championed, which made this possible."
Saint Rose filed for Chapter 11 bankruptcy protection in October, continuing the college's shutdown operations which began in late November 2023. Stay with NEWS10 as this story continues to develop.
