King’s University College is in negotiations with the Diocese of London to buy surplus property at St. Peter’s Seminary.
The university, however, has no immediate plans for development on the scenic property.
“The reason is to preserve this historic property for the neighbourhood, King’s and the future growth of our institution,” said David Sylvester, King’s principal.
The seminary lands are situated on Waterloo Street and are used for recreational activities by the local community.
The Diocese of London is looking to sell the land in their efforts to raise funds for a complete renovation of St. Peter’s Seminary building. The renovation will cost $30 million of which $23 million are being provided by the Diocese of Hamilton. The rest is expected to be raised by the sale of the property to King’s and a future fundraising campaign.
“They have determined [the lands] to be in excess of the needs of the seminary so that's what began the conversation,” Sylvester said.
According to Sylvester, no agreement of purchase has been finalized but both King’s and the Diocese are very hopeful for a deal. Although King’s is an academic affiliate of Western, the university is not involved in the conversations between King’s and the Diocese.
“We will just keep negotiating until we have the right agreement for both the Diocese and for King’s,” he said. “We are very eager and our goal is to be the best Catholic university in the country so we’ll keep working on that project.”