KANSAS CITY, Mo. (BP)–The $1.4 million purchase of the Farmland, Inc., property adjacent to Midwestern Baptist Theological Seminary was completed March 29 after being approved by the seminary trustees via an electronic ballot.
“This is the first substantial addition for our administration and faculty facilities in over 40 years,” Midwestern President R. Philip Roberts said. “It represents what we believe is a new day of progress for the cause of the gospel at Midwestern Seminary.”
A 34,000-square-foot building, which was a retreat center for Farmland, sits on the 24 acres of land just north of the present campus. The building overlooks a three-acre lake. Renovations will begin this summer and plans are to occupy the building before the fall semester. No major renovations are expected.
Trustees approved the purchase 27-1. Chairman Dan Eddington of Carson City, Nev., said, “This is a positive move for the seminary. We are excited about the possibilities that it brings to the seminary for the future, including expanded space for students, improved facilities for faculty and staff and a place to expand the library as well as other areas.”
Suggested uses for the building, which has more than 50 rooms, include administrative and faculty offices, classrooms, library annex, archaeological display room, conference rooms and a student commons area.
The purchase was paid for primarily by borrowing from the seminary’s general endowment fund. Plans are to pay it back over the next three years through fundraising efforts.