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A group of local investors, known as 9 Fresh, has successfully purchased the Cazenovia College campus for $9.5 million. The deal was finalized on December 18, marking a significant step toward transforming the historic property into a mixed-use community. The college, which closed in 2023 due to financial difficulties, had been a staple in the community since its founding in 1824.
The investors plan to partner with the Oughtness Group, an Atlanta-based real estate firm, to redevelop the campus. The goal is to create a vibrant community featuring residential, commercial, and cultural spaces. The main campus will be transformed into a business and tech district, with various housing options and community spaces. The exterior of the historic buildings will largely remain unchanged.
As part of the transaction, Madison County purchased Reisman Hall and Sigety Hall for $1.9 million. Reisman Hall will become the new home for the sheriff's department's administrative offices and training center. The county plans to demolish Sigety Hall to create additional parking space. The town of Cazenovia also acquired the Jephson Campus for $1 million to use as its new town office.
According to Syracuse.com, the athletic center, which includes an Olympic-size swimming pool and various sports facilities, is expected to reopen for community use soon. The 240-acre equine education center will continue to host equine activities and introduce agriculture and leisure activities.
The acquisition represents a major milestone for the community, offering new economic and community opportunities while preserving the site's historical significance. The development is expected to boost the local economy by relocating approximately 40 to 60 employees to downtown Cazenovia.