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Bastyr University is planning to sell its Kenmore campus as a solution to combat financial woes, university officials confirmed.

The decision came after the board voted to approve the sale last week. It鈥檚 part of a plan to cut costs and stay open.

The land the school sits on has become too expensive to maintain. For example, the main building on campus is from the 1950s and needs millions in repairs. Despite Bastyr University sitting on more than 50 acres, it uses less than half of the grounds.

“This is not a decision to close Bastyr University,” the school wrote in a . “It is a strategic action to reposition the institution for long-term success, continued accreditation, and the ability to invest in innovation and student success.”

With declining enrollment on top of all of its other problems, Bastyr University is ready to move. It plans to lease the property back for a few years, then move, potentially relocating its campus to the Seattle area.

What will the land turn into?

The land could be used to create and develop affordable, mixed-use, multi-family housing in a village-like setting, a news release from the university offered. The school hopes the campus will turn into affordable housing.

“We understand the emotional impact of this change,” the university said. “But our mission to transform the health and well-being of the human community remains strong鈥攔egardless of where we are physically located.”

The university purchased its Kenmore campus from the Archdiocese of Seattle in 2005.

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