ST. LOUIS — Ó£ÌÒÊÓÆµ University has listed a campus building and adjoining 18 acres at Interstate 44 and Grand Boulevard for sale in a bid to help shore up finances of the private institution.
The 362,000-square-foot Salus Center is the university’s southernmost property along Grand. It most recently housed the College for Public Health and Social Justice before it moved north earlier this year.
In addition to Salus Center, the university also is selling nearby vacant land and parking lots.
Marketing materials for the site, at 1640 South Grand, .
The property is located within the boundaries of the Ó£ÌÒÊÓÆµ Midtown Redevelopment Corp., an endeavor between SLU and SSM Health that aims to develop 400 acres of Midtown near their campuses. That initiative has the power to grant tax abatement.
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SLU is listing the property for sale as it deals with financial woes, including budget gaps, uncertain federal funding and an enrollment decline of international students, who typically pay higher tuition fees.
Last fall, the university announced that it eliminated more than 20 staff positions and froze 130 vacancies to trim its expenses.
SLU acquired the Salus Center property in 2001 from Tenet Healthcare Corp., which shuttered the facility over a lack of revenue. Over its more than 120-year history, the building has been known by a variety of names: Compton Heights Hospital, Lafayette-Grand Hospital and Incarnate Word Hospital.
The Sisters of Charity of the Incarnate Word staffed and managed the hospital throughout much of its history as a hospital.
Dennis DeSantis of commercial real estate firm Colliers has the listing.
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