The Rochester development firm Top Capital has purchased the 24-acre Colgate Rochester Divinity School property on South Goodman Street. The purchase price wasn't announced.
Michael Palumbo of Flaum Management -- who handled the negotiations -- says a new divinity school will be built on the site and the rest will become a $36 million hotel and conference center.
Top Capital says the new divinity school building will be finished in 2018, and work on the hotel and conference center will begin after Colgate-Rochester moves into its new facility. Chief Development Officer Louis Giardino says they want to keep the historic charm and character of the land next to Highland Park while also making it a landmark destination.