$8 million sale of St. Gregory's to Hobby Lobby finalized
OKLAHOMA CITY (AP) - The $8 million sale of the campus of bankrupt St. Gregory's University in Shawnee to Oklahoma City-based Hobby Lobby Stores Inc. is now final.
Documents filed in federal bankruptcy court Tuesday in Oklahoma City completed the sale of the more than 70-acre campus that includes six buildings and other property.
Hobby Lobby will lease the campus to Oklahoma Baptist University, a private Christian college in Shawnee, for an undisclosed amount.
St. Gregory's was the only Roman Catholic university in Oklahoma. It was established in 1875 and closed last year over financial problems before filing for bankruptcy.
OBU spokeswoman Paula Gower says classrooms and labs in one building will be used for science courses and a performing arts center will be used for theater, choral and instrumental programs.