Church Sells Philly Cardinal's Home To University - Philadelphia News, Weather and Sports from WTXF FOX 29

Church Sells Philly Cardinal's Home To University

PHILADELPHIA (AP) - The Archdiocese of Philadelphia is selling the cardinal's residence to an adjacent Roman Catholic university for $10 million.

Saint Joseph's University announced Friday that it signed a letter of intent with church officials to acquire the nearly 9-acre property. The purchase is expected to close in a few weeks.

The land includes a three-story main building with more than 23,000 square feet, and two additional buildings. The university did not specify how the property would be used.

The residence is 1 of several properties being sold by the archdiocese as it tries to close a budget deficit. Next week, officials will auction a sprawling beachfront villa in New Jersey that had been used as a vacation home for priests.

A church spokesman did not immediately return a request for comment.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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