— The College of Engineers at GWENN is up on the market for $4.5 million, and the price tag could be more, according to an investor who has been talking to prospective buyers.
“We have a really strong interest in this campus,” Barry Drouet, who owns the GWEN and Gwenn properties, told Axios.
“It’s the only one we’re going to buy.”
Drouet has a track record of winning a lot of money in a short period of time, and GWEN is on the cusp of the biggest student-housing construction project in U.S. history, according the Atlanta-based investment firm Tully Group.
Dromey is in the process of completing a deal to buy the GWENN property and has already been working with several other interested parties, including some of the largest universities in the country.
The GWEN property has been the center of controversy over the past two years, after it was announced that a proposed $25 million project to construct a new residence hall was going to require a large chunk of the campus to be turned into dorms.
GWEN also has an active campus preservation program, and in the fall, students, faculty and staff were invited to speak at a public forum in the university library.
In November, the university’s president and chancellor issued a statement saying they did not “support or endorse the construction of new dorms on campus,” but they did promise to work with the community to address concerns about the proposed project.
Tully Group also has a significant stake in the GWenn property, as the company owns a substantial amount of stock in the school.
According to Tully’s research, GWEN has a strong student-faculty ratio, with just over 2,000 students enrolled at the university.
When asked how much the sale price could go up, Dromey said the seller could ask for a higher number.
“[I]t would depend on the price,” he said.
After the GWENG sale is completed, the sale would go through the state’s student-assistance program, which would give students who need assistance with paying tuition up to $2,500 a month.
If a student or faculty member has to work more than 15 hours a week to meet their income, they could also be eligible for financial aid, according Tully.
However, the GWENE property is not in a financial position to cover all of the expenses associated with an education, according Dromet.
As part of the sale, the property will be turned over to the GWENC property owners, which is owned by Tully Investment Management.
At a news conference, Tully announced the sale in September, which was attended by more than 200 people.
Despite the high price tag, Drouets comments on the sale seemed to be upbeat.
He said that he believes the GWE property is a prime example of how the college can turn around its finances and grow the student body, as it was built with funds from the state and private foundations.
Brynn Anderson, a spokeswoman for Tully, said the company expects the sale to close within two months.
Anderson said the university plans to continue its current financial plans, including tuition increases, and that the school will be able to continue to operate as normal.
Students have had mixed feelings about the sale.
Gwenn College president Michael Cusano told students that they should be excited about the potential of a new, higher-end college, but that they must be careful about how they look at the property.
Cusano said the property is one of the best properties in the region and that students should be careful when they look, and keep in mind that the properties price is dependent on how much is in place.
Another student, Ryan Dormer, said that students will need to keep in touch with their parents and other family members about the property, and they should work to protect the property against possible redevelopment.
Meanwhile, a student who is a major in a different area of the school is planning to apply for a master’s degree in environmental sciences at GWENC.
Jamey Taddell, a senior in environmental science, said he will take a course in environmental chemistry next semester.
A former student of GWEN said she is interested in learning more about the campus, but has no plans to apply.
It is not clear when the sale will take place.