Ten million dollars in debt and with big plans for the future, the Academy of Holy Angels wants to sell part of its Richfield campus in a plan that is drawing fire from alumni and some concern from the city.
A developer has offered the private school almost $6 million for a strip of land along Nicollet Avenue at 66th Street for retail development. That's about six times the assessed land value. School officials say the sale would kick-start an endowment fund, allow it to repay some debt and make campus improvements.
By late Wednesday afternoon, more than 300 people had signed an online petition opposing the land sale, saying that construction on the east lawn would ruin the Holy Angels campus, eliminate important green space and add stores to an area that already has enough retail.
"Holy Angels is a beautiful campus, because of its unique architecture and grounds," one petitioner wrote. "There is no need for another strip mall at 66th and Nicollet. This short-term fix will destroy the ambience of the school."
Board of Trustees member Tim Murphy, a Holy Angels graduate and father, said the school offers a quality education but needs to improve its facilities. Its atmospheric brick building, built in 1931 in the middle of cornfields and now at the busy heart of Richfield, is beloved and has been compared to Harry Potter's Hogwarts. But Murphy said he noticed how little had changed since he graduated in 1982.
"The school wants to be more vibrant, and really needs to improve its facilities," he said. "For the institution, if you're not moving forward in a meaningful way, you're moving backwards."
Via e-mail, school President Tom Shipley said the sale would raise money that could be used to add to student financial aid and to enhance teacher compensation and curriculum.
Over 20 years, Holy Angels has collected nearly $10 million in debt because of construction on a dome and convocation center and the purchase of the school and land from the Sisters of St. Joseph of Carondelet. The school's campus master plan calls for improvements to an athletic field, renovating a boiler plant and creating an Alumni Hall, improving outside spaces and creating a training facility for athletes.