build a monastery
https://collegetowns.substack.com/p/no-you-and-a-couple-of-friends-shouldnt
No, You and a Couple of Friends Shouldn't Buy a Dead College
Of course a "couple of friends" shouldn't. You would need at least ... 40 people. A hundred would be better. 🔥 ( or, one billionaire who can hire 40 people.)
In fact, one issue that caused colleges to end up closing in the first place is related to the maintenance of campus buildings and infrastructure. Administrations may put off deferred maintenance due to budget constraints, leaving repairs festering. The problems then exacerbate, with repairs becoming more expensive.
Old pipes can easily freeze or leak, causing flooding that ruins both the floor and ceiling. Roofs certainly will leak. Foundations of buildings can start to crack or crumble. Old wiring may corrode and become a fire hazard.
💡 if you allow your buildings to not have water and electricity, it becomes slightly easier.
🔥 it's also easier if you don't mind a bit of asbestos.
As always, it's also a "zoning" issue: 💡 ( I would recommend you negotiate with the local city council before you buy.)
Let’s just say that you and your friends do not care about the maintenance or the upkeep; there is another blockage for your dreams of reliving Old School, Animal House, or Accepted: it’s called zoning.
The US is famous for its strict Euclidean zoning, which means that land is separated out by specific usages. Some low-density neighborhoods may be zoned for R1 residential, meaning only one- or two-story single-family homes, while others may be C4 for big box stores, with a range of other categories and codes.
Universities are typically coded in a special “institution” type of zoning category. This means that the university can operate some businesses on campuses like coffee shops, along with students in dorms, and other standard administration functions. It does not allow universities to do anything they want.