GMercyU and St. Charles Borromeo Seminary Sign Agreement of Sale to Relocate Seminary to Gwynedd Valley
Gwynedd Mercy University and Saint Charles Borromeo Seminary recently signed an agreement of sale that will allow the Seminary to relocate to GMercyU's campus. The sale, which will not be finalized until the end of separate due diligence and approval periods, includes approximately 15 acres of space on the northern border of GMercyU's campus as well as two existing buildings.
Both institutions expressed their gratitude to the Maguire Foundation for a generous $3 million gift to Gwynedd Mercy University that will be supplemental to the $10 million purchase price by the seminary.
"The Saint Charles Seminary community is thrilled to have found such a wonderful new home, and grateful for the generous support of The Maguire Foundation in making this transaction possible," said Bishop Timothy C. Senior, the Seminary's Rector. "While there are mixed emotions involved with departing from Overbrook after many years, Gwynedd Mercy University's campus offers a beautiful setting and the perfect location for us. We anticipate being able to welcome our community to its new home for the 2024-25 academic year."
In 2016, Archbishop Charles J. Chaput, O.F.M. Cap. accepted a recommendation from the Seminary Board of Trustees to sell the entire seminary property and explore options to partner with a local Catholic college. At that time, discussions began with several Catholic universities including Gwynedd Mercy University. The seminary began discussions with potential buyers for its property, which resulted in the sale of the campus to Main Line Health in May 2019. In late 2020, the seminary signed a letter of intent with Gwynedd Mercy University to explore the possibility of purchasing a portion of the Gwynedd Valley property.
"When Bishop Senior approached us in December 2019 about relocating to a portion of our campus, we were excited about the possibilities of bringing two well-respected Catholic institutions of higher education together in one location," said Deanne H. D'Emilio, JD, president of Gwynedd Mercy University. "We also are honored and grateful that The Maguire Foundation wants to support this exciting initiative. The Maguires are faithful supporters of Catholic higher education and have been steadfast and generous friends to Gwynedd Mercy University. I am so grateful for their continued support."
With the successful completion of the transaction, Gwynedd Mercy University and Saint Charles Borromeo Seminary will remain two separate and distinct institutions. Each will continue to maintain its own governance structure, academic freedom, and ability to offer programming consistent with their missions and core values.
Once the transaction closes, the Seminary will begin the building and renovation process to shape the new location for its needs. Plans call for the construction of a new chapel and student life center which will include a refectory, classrooms, library, administrative offices, fitness center and additional housing for seminarians and resident faculty.
As a part of GMercyU's Campus Master Plan, the residential housing and Campus Ministry functions currently located in existing buildings will be transitioned to other areas of campus.
The estimated time for the campus transition to be completed is approximately two to three years provided all conditions are met.