Less than five months after The Plaza was donated to Liberty University, the property may change hands again.
The school may sell the $11.7 million shopping center to a “reputable developer” who has made an offer on the property.
A draft contract is in the works, and the school is probably a few days away from signing.
That would begin a 90-day closing process, anytime during which the potential buyer could back out.
Because of a confidentiality agreement, Falwell JR. could not name the potential buyer or disclose the proposed amount of the sale.
In September, the Arizona-based Sandor Development Co. donated the 42-acre, 467,000-square-foot shopping center to the university.
Located off Memorial Avenue near E.C. Glass High School, the center is home to a Carmike movie theater, outsourcing firm StarTek and a variety of stores.
The Plaza was once the hub of Hill City shopping, but River Ridge mall, and later the Wards Road corridor, hurt its popularity. For years, Lynchburg officials have planned revitalization efforts around The Plaza.
Falwell previously had looked into the possibility of locating the school’s Distance Learning Program offices to The Plaza.
With this new development, the school may instead consider purchasing portions of the old Thomas Road Baptist Church for offices that don’t need to be on the main campus.
Currently, the old church property is used for youth athletic leagues and some other church services.