What’s next for the Sterling campus?
On July 17, Headwaters submitted an offer to purchase the former Sterling College campus in Craftsbury Common. Sterling trustees will provide a response to our offer by August 7.
If Headwaters acquires the property, we’ll revitalize the campus in phases, starting with urgent local needs — housing, childcare — while launching community-wide conversations to guide what comes next.
Update: On Friday, August 7, Headwaters received word through Sterling's broker, V/T Commercial, that Sterling's trustees want to continue discussions with Headwaters. We expect to hear more from them some time in the next two weeks.
FAQ
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No, but Headwaters has submitted a competitive offer as part of the sale process. We do not yet know the outcome, but we are planning for the possibility that our offer will be selected.
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As a community land trust, Headwaters is committed to a transparent, community-informed development process that is financially sustainable and meets the needs of our service area.
Early community engagement efforts have identified housing, education, access to agricultural land, and Craftsbury Saplings' childcare expansion as priorities for the campus.
If Headwaters acquires the campus, we will contract with experienced professionals to launch a thorough community engagement process designed to ensure that the development of the campus is aligned with community priorities.
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Headwaters is preparing for the possibility of a successful acquisition of the campus.
We are raising funds to support property assessment, feasibility studies, community engagement and development planning.
We look forward to partnering with the broader community to determine what comes next for this vital asset.
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We’ve received early philanthropic support locally and regionally to support acquisition.
With known project priorities aligned with regional and statewide priorities, we anticipate accessing a range of public and private funding sources for further project development.
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Headwaters and Sterling initially sought to negotiate a direct sale of the campus based on the property's appraised value.
In the spring, Sterling trustees announced that due to financial obligations, they are obligated to test the property’s value on the open market.
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Headwaters is working closely with a team of advisors experienced in community, housing, and commercial real estate development, including representatives from Preservation Trust of Vermont, Northern Forest Center, and Vermont Housing and Conservation Board.
If Headwaters acquires the campus, we intend to support the expansion of local childcare center, Craftsbury Saplings. We’re also in conversation with a group of former Sterling College faculty and staff.
Headwaters looks forward to exploring further partnerships for community-aligned activities on the campus. We’re planning to launch a thorough community engagement process if/when Headwaters closes the sale.
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