September 8, 2006 Source: :
http://www.nipissingu.ca/news/view.asp?ID=20060808 Nipissing University purchases Precious Blood Monastery North Bay, ON, September 7, 2006 — Nipissing University has purchased the Precious Blood Monastery, located at 165 Monastery Road, in close proximity to Nipissing’s North Bay campus. The university and the Roman Catholic Episcopal Corporation for the Diocese of Sault Ste. Marie each enlisted an independent assessment of the property to determine fair market value. "The Bishop indicated that the Sisters are very happy that Nipissing University has purchased the property. Nipissing was their first choice as a buyer because they believe the university is a positive force in our community and they wanted to ensure that this beautiful land would benefit current and future students," said Vicky Paine-Mantha, vice-president finance and administration. The purchase was completed on September 1, 2006. The university bought the land from the Roman Catholic Episcopal Corporation for the Diocese of Sault Ste. Marie, Ontario, and the building from the Sisters of the Precious Blood. The structure, a two-storey building plus a basement, was built in 1961 and has been well-maintained. It is located on 22.97 acres of land. The existing building will require renovations to make it appropriate for educational use before the university becomes an occupant. Nipissing University is currently facing a critical shortage of physical space for classrooms, offices, meeting rooms, seminar rooms and storage. The purchase of the Monastery building will help offset that shortage, although at this time the university has not completed its plans for how the Monastery space will be best utilized. "Nipissing University is extremely pleased to have purchased the Monastery. It is truly a gem. We are thrilled that this opportunity presented itself and the Sisters of the Precious Blood wanted to entrust this lovely property to us," said university president Dennis Mock. "It was absolutely essential and strategic for us to look seriously at this property to accommodate long-term growth possibilities in close proximity to our campus. The land is located between our main campus and two of our largest residences. The pathway and Monastery Drive are used extensively by our students for walking and biking."
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