DOBBS FERRY, N.Y. – Mercy College of Dobbs Ferry announced Friday that it will purchase the adjacent grounds and building of Our Lady of Victory Academy for $7 million.
The academy's 8.7-acre property is located at 565 Broadway, while the college is at 555 Broadway.
“This announcement could not come at a better time for Mercy College," Dr. Kimberly R. Cline, president, said. "We had a terrific 2012, with successes including an ‘A’ rating from Standard & Poor’s, creation of the Centers of Excellence in the School of Business, and campus enhancements, including new science labs and the new state-of-the-art turf athletic field. We look forward to another great year for Mercy College in 2013.”
Our Lady of Victory Academy, which is owned by the Sisters of Mercy, closed at the end of the 2011 school year due to declining enrollment, changing demographics, the rising cost of education and the struggling economy. Several more Westchester area Catholic schools were closed by the New York Archdiocese this month.
Our Lady of Victory was founded in Tarrytown in 1945 and moved to its Dobbs Ferry location in 1961. Enrollment was 280 students, with a capacity of 400, when the school closed.
Mercy College recently entered into a yearly $461,000 leasing agreement to use the building for classrooms and the grounds for a softball field and parking. The college also uses the old high school building for some of its administrative staff.
The College intends to use the property in the same way going forward.