Lattimore Hall has been sold, but Cayuga Community College does not anticipate the sale will change anything about the college's relationship with the independent student housing complex.
Prior owner Lattimore Hall LLC, of Syracuse, sold the building at 81 Genesee St., Auburn, to WCBB Holdings LLC on Aug. 15.
The sale price was $3,803,000; the property's market value is $2,500,000, according to Cayuga County property records. It was built in March 1998.
According to the Department of State, WCBB Holdings is registered in the Rochester suburb of Fairport. It declined comment about its purchase through its broker, Hemisphere Holdings Corp.
However, the college's vice president of student affairs, Jeff Rosenthal said Wednesday that he has met with Lattimore Hall's new owner, and he "seemed genuinely interested in continuing a very positive and mutually beneficial relationship." The new owner met with the college to find out more about it and its relationship with Lattimore Hall, Rosenthal said.
"The prior owners were tremendous partners with the college, and we hope and expect the new owner will be equally as helpful in supporting Cayuga Community College students," Rosenthal said.
The hall, which has 97 beds on five floors of suite-style housing, is independently managed and does not generate revenue for the college, Rosenthal said. But through its relationship with the college, he continued, the hall receives a portion of its student residents' financial aid payout. During summer breaks, the hall is used as housing for Finger Lakes Musical Theatre Festival performers and crew.
The college also works with the hall's manager and resident assistants to enforce the college's code of conduct, Rosenthal said. All residents there are assigned student success advocates whose responsibility it is to directly support their residents if they have questions or concerns. The program, which is a few years old, has seen increasing student engagement, Rosenthal said.
Riverbend Coffee and a student lounge area sit on the hall's ground floor.