Eastern Nazarene College (ENC), a small private school located in Quincy, MA, has announced that it will be closing its doors and selling its entire campus to development firm Crain Co. The terms of the sale have not been disclosed. ENC alumnus and founder of Crain Co., Graham Crain, was chosen as the buyer.
According to ENC president Rev. Colleen Derr’s message to the campus community, there were two main reasons why Crain was selected as the buyer. Firstly, they expressed interest in purchasing the entire campus and were able to quickly finalize an agreement without a lengthy process of selling off individual properties. Additionally, their understanding and appreciation for ENC’s legacy both as an educational institution and part of Quincy’s local community made them stand out among other potential buyers.
The Patriot Ledger reported that ENC is currently working on creating a new subdivision called Eastern Nazarene Estates which would divide up the current campus into 30 single-family lots and two multifamily lots with one new street connecting them all.
ENC is just one example in a trend seen across Massachusetts where many smaller colleges are either merging with larger schools or shutting down completely due to financial struggles. This information was reported by Boston Business Journal last June when ENC first announced their closure.
