BIRMINGHAM, Ala. — Birmingham-Southern College’s campus is still on the market after a proposed sale to another historically Black college in Alabama fell apart on Monday. Officials stated that the agreement with Miles College did not go through after the deadline for the sale lapsed at 3 p.m. on the same day. According to Birmingham-Southern, their 192-acre campus carries a valuation of $65 million.

The Methodist-affiliated institution, which has a long history of 168 years, ceased operations on May 31 due to ongoing financial challenges. Efforts to secure a taxpayer-funded loan to assist the college had been stalled within the state legislature of Alabama.

Birmingham-Southern enrolled approximately 1,000 students and was situated on the west side of Birmingham, just about 6 miles away from Miles College, another private liberal arts institution connected to the Methodist church.

Birmingham-Southern expressed its respect for Miles College, acknowledging their shared history and similar missions. However, the college’s administration emphasized the necessity of fulfilling obligations to lenders and creditors, prompting them to expedite the sale of the campus as quickly as possible.

Efforts to reach Miles College for comment were not immediately successful. With this sale collapsing, there has been no update on the potential future of the BSC campus’s purchase.

The acquisition agreement between Miles and Birmingham-Southern was signed on September 25, with plans for the closing to occur by October 25. Miles College subsequently requested an extension to November 25, but Birmingham-Southern turned down a second request for a delay to December 24, just ten days prior to that date.

The situation at Birmingham-Southern reflects a broader trend, as many small private colleges across the country are facing difficulties due to dwindling enrollment among traditional college-aged students and increased competition from larger, wealthier institutions.