Days after announcing exploratory discussions of moving its campus to a site adjacent to Woodland Park Baptist Church, officials with Tennessee Temple University have listed most of the 65-year-old school's 21-acre site for sale.
Benjamin Pitts, a listing agent with Herman Walldorf Commercial Real Estate, announced Wednesday the university had hired the firm to assist with a sale. The campus is listed at $19.6 million.
"I think the market will respond well to the offering, which includes over 21 acres and more than 470,000 square feet of improvements in an urban setting near downtown Chattanooga," Pitts said in a news release. "We think there are a number of potential uses for the property, including continued school-related use."
Despite reporting a 47 percent growth in student enrollment, officials with Tennessee Temple acknowledged earlier this week having "exploratory discussions" with Woodland Park Baptist about a possible relocation. The college has no specific plans for its current campus but is open to options, according to Herman Walldorf.
Walldorf has been involved in past transactions concerning Tennessee Temple. Recently, the firm brokered the sale of 7 acres of land adjacent to the school's property from the former Highland Park Baptist Church to Redemption Point Church and also helped broker the lease and eventual sale of Tennessee Temple Academy to the Chattanooga Girls Leadership Academy.
A total exit of Tennessee Temple will mean big changes for Highland Park, which surrounds the campus on all sides.
Jeff Cannon, deputy chief of staff and chief innovation officer for Mayor Andy Berke's office, said that city officials were hopeful that any change in ownership would result in a situation best for the surrounding neighborhood and acknowledged that the city had been in discussions with Tennessee Temple regarding their plans.
"The mayor's office has had several meetings," Cannon said. "We've been engaging with the neighborhood and the leadership from Tennessee Temple University to make sure that the best thing for the neighborhood is what happens," Cannon said.
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