Knox College announces closing of the sale of the Knox building
Dear Alumni, Family, and Friends of Knox,
On March 25, 2022, it was communicated that Knox College and the University of Toronto had signed a Letter of Intent (LOI) in a key step towards the University of Toronto purchasing the iconic Knox College properties in the heart of the University campus. Under the terms of the sale, the University of Toronto will acquire the Knox College properties and lease back to Knox College the academic wing (on King’s College Circle) of the 59 St. George Street building for the continuing operation of a theological school for The Presbyterian Church in Canada (PCC) for 40 years.
Today, March 1, 2023, the Agreement of Purchase and Sale (APS) was finalized, meaning that the Knox College properties are now owned by the University of Toronto. As Principal, I would like to extend a word of thanks to the College’s lawyers, the Board of Trustees, and the staff members involved from Knox College for their monumental effort during the past eleven months to finalize this deal.
The sale frees Knox College from the responsibility of owning and operating the whole building, and especially from the obligation of deferred maintenance costs. It will also enable us to focus our efforts and resources on our programs and mission, and to continue to offer advanced theological education over the long term. With the sale, we have ensured a strong future for theological education for The Presbyterian Church in Canada.
These are times of great change in our denomination and our Christian faith. Knox is listening closely to the needs of our church and working on programs to equip our students, ordained ministers, and lay leaders to respond to the challenges and opportunities before us. Further announcements about this will be made in the coming months.
Ernest van Eck
Knox College Principal
Find more information about this topic here — including a statement from Knox’s Board Convener, and a list of FAQs.