LOUISVILLE (May 24, 2017) – President Tori Murden McClure and the Spalding University Board of Trustees formally announced today that the school has contracted to purchase the former Kroger property located at 924 South Second Street for $1,075,000.
“Our mission statement is embedded in service and includes ‘meeting the needs of the times’ which is a ‘close second’ to our core of educating students and preparing them for leadership and service,” McClure said. “Therefore, we will first seek to play a role in filling the void created by the departure of Kroger before embarking on potential future plans.”
Following an Environmental Site Assessment that revealed no evidence of Recognized Environmental Conditions (REC’s) on the property, Spalding will proceed with the purchase and seeks to set a closing date for June. Spalding University officials have been reminded that the adjacent former Puritan Uniform property contains contaminated soil and is an active Brownfields site, but a Property Management Plan is in place to manage the contamination.
As Spalding continues its physical transformation, largely with new green space peppered across campus and the well-publicized athletic fields being erected on 9th Street, this acquisition is a “dramatic statement as we look to the future of this community and our role within it” according to Rush Sherman, Chief Financial Officer.
“What makes our transformation special, is the community partners who believe in our vision, those we serve and who have assisted us in significant ways,” said Bert Griffin, Chief Advancement Officer. “Years from now, perhaps decades, so many people and organizations who have been a part of this will look back, and be very proud to have been a part of it.”
The purchase price is more than $400,000 less than was originally asked by the owners of the property – the State Teachers Retirement System of Ohio.
“We are watching this historic university once again come of age,” said Angela Leet, Trustee and vocal community leader. “President McClure’s first notion is to see if a corporate grocer solution is feasible that will serve those who relied on the former tenant – it’s a testament to our unwavering commitment to our mission.”
No immediate plans exist should the Trustees find themselves unable to secure a grocery option for the expanded food desert created by Kroger’s departure.
“This is a strategic acquisition as we look to the future of this institution and this neighborhood,” added Rick Barney, Chief Marketing & Public Relations Officer.
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