Lexington, KY (WKYT) - The sale of the Lexington Theological Seminary campus on S. Limestone is now complete. The sale of the 63-year-old campus to neighboring UK was finalized Friday. The LTS Board of Trustees reportedly expects to name a new home for the Seminary in July.
A news release says the board has narrowed down the Seminary’s next home to a handful of sites in Lexington. The Board is reportedly actively considering which site will best meet the mission and long-term goals of the Seminary, which no longer needs residential space for students. “We believe this is the next step in the transformation of the Seminary's work and ministry,” said LTS President Charisse L. Gillett.
The purchase price of the S. Limestone campus was $13.5 million. The sale and stewardship of these resources “will provide for a sustainable business plan for the long-term future of the Seminary,” said LTS Board chairman Gary Kidwell.
The Seminary will relocate its administration offices by December. On-campus classes will move to the new facility after January 2014. The library will be relocated by August 2014.
Founded in 1865, LTS is the oldest seminary affiliated with the Christian Church (Disciples of Christ) and has been a part of the Lexington community since its early days at Bacon College. The Seminary moved to the current campus on Limestone in 1950.