Hellenic College Holy Cross Greek Orthodox School of Theology (HCHC) announced on August 2 that it has fully executed a Purchase and Sale Agreement for the sale of approximately 25.98 acres of undevelopable land on its property. Under the agreement, the land will ultimately be transferred to The Trustees of Reservations, one of the nation’s oldest and most respected nonprofit conservation organizations, ensuring the land is permanently preserved for future generations.
The agreement establishes a purchase price based on $1.2 million per acre, for an initial total of approximately $31.176 million, subject to final survey adjustments. A 90-day due diligence period has begun, during which the buyer will conduct engineering, environmental, and subdivision review. The parties will proceed toward closing following completion of these contractual and governmental requirements.
“This marks a truly historic milestone in the life of our institution,” said Archbishop Elpidophoros of America, Chairman of the Board of Trustees. He credited the achievement to the dedication and tireless efforts of the administration and members of the Board of Trustees.
