SPEAKIN’ OUT NEWS
BIRMINGHAM, Ala. – Miles College announced Tuesday that efforts to purchase the former Birmingham-Southern College (BSC) campus have hit a pause after the expiration of a purchase agreement on Nov. 25. Despite the setback, the historically Black college remains optimistic about securing the 192-acre property in the future.
The agreement, originally executed in late September, faced multiple delays. Miles College requested two extensions, pushing the closing date from Oct. 25 to Nov. 25. A further extension to Dec. 24 was denied by BSC trustees, citing financial obligations to lenders and creditors.
“This setback does not deter us; it motivates us to pursue excellence and opportunity with greater determination,” said Mya Jolly, public relations director for Miles College. She added that the college remains committed to exploring other avenues for acquisition.
Joy wrote in a Monday email that the purchase agreement has expired “but the college still has the ability to make another offer.”
BSC closed in May after 168 years of operation, citing long-term financial challenges and declining enrollment. Efforts to secure a $30 million loan from the state legislature to stabilize operations failed earlier this year. The Methodist-affiliated liberal arts school must now sell its campus to meet financial commitments, though it has not ruled out a future deal with Miles College.
The anticipated sale of Birmingham-Southern College (BSC) to Miles College will not proceed, according to a news release dated Nov. 25. The purchase agreement between the two Alabama institutions expired at 3 p.m., bringing negotiations to a halt.
BSC revealed that it had been collaborating with Miles College to finalize the sale, even after Miles requested an extension of the deadline. However, Miles’ request for a second extension, this time to Dec. 24, was denied.
“The BSC community has great respect for Miles College, its students, faculty, staff, and alumni,” the release stated. “We appreciate both the shared roots and the alignment of missions. But to meet its commitments to lenders and other creditors, the BSC Board of Trustees is obligated to sell the 192-acre campus property as quickly as possible.”
State Representative Juandalynn Givan expressed her reservations about the deal, citing concerns over the financial feasibility of the acquisition.
“If you go on that campus and you can’t reasonably acquire the debt and whatever that means, all of that entails… and then you [need to] service the rehabilitation of those buildings and deferred maintenance—walking in the door putting in worth about $20 million, if not close to $30 million—I’m going to suggest to anybody, ‘Don’t do it. Hold up,'” Givan said.
The deal’s collapse has left questions about the future of the historic Birmingham-Southern campus. Givan emphasized the importance of a detailed strategy for revitalizing the property if any potential buyer is to succeed.
“You’re asking the community to buy into you now, so you need to come with a full development plan in order for the campus to be successful,” Givan explained. “You’ve got to give this campus something it hasn’t had—life, revitalization, modernization. You’re going to need a revitalization and a modernization plan.”
With the sale no longer on the table, BSC faces continued pressure to resolve its financial challenges and find a suitable buyer for the sprawling campus.
The campus sale, valued at approximately $65 million, remains unresolved as BSC trustees continue seeking buyers.
