Vermont Business Magazine Southwestern Vermont Health Care (SVHC) has submitted an offer to the bankruptcy trustee overseeing liquidation of assets of the former Southern Vermont College. The signed offer is for $3.2 million and includes the real estate property and facilities of the main campus. The leadership of the health system, through the direction of its Board of Directors, is committed to developing a long-range plan to maximize the use of this valuable community asset as well as how the property could enhance community and health-related services for the southern Vermont region.
SVC Mansion. Courtesy photos.
The intent is to keep the property locally owned, with a goal to make the athletic fields and its myriad trails accessible for the community. Before submitting its offer, SVHC contacted the leadership of the Town of Bennington to explore opportunities and develop together strategies for the former college campus and associated assets.
“Southwestern Vermont Health Care realizes how important this property has been to our region and its historical significance,” stated president and CEO Thomas Dee. “The outdoor space and the Everett mansion are treasured assets and should remain accessible to our community.”
The original benefactor of the former Putnam Hospital, Henry Putnam, had two children, his son Henry Putnam, Jr. and his stepson Edward Everett. Both were deeply involved with the community and the hospital. Everett was highly successful in the glass industry in Ohio, and built a castle on the hill that today is an iconic fixture on the former Southern Vermont College campus and a Preservation Trust of Vermont property.
“This is a win-win for the Town of Bennington,” stated Town Manager Stuart Hurd. “SVHC is an active and supportive community partner, and are committed to keeping the campus and Bennington Area Trail System trails open for public recreation.”
The bankruptcy auction will be scheduled within approximately 30 days. If successful with the estate auction, the health system intends to partner with the Town and conduct a thorough assessment and develop a short- and long-range plan for the property.
Hunter Hall
About SVHC:
Southwestern Vermont Health Care (SVHC) is a comprehensive, preeminent, health care system providing exceptional, convenient, and affordable care to the communities of Bennington and Windham Counties of Vermont, eastern Rensselaer and Washington Counties of New York, and northern Berkshire County in Massachusetts. SVHC includes Southwestern Vermont Medical Center (SVMC), Southwestern Vermont Regional Cancer Center, the Centers for Living and Rehabilitation, and the SVHC Foundation. SVMC includes 25 primary and specialty care practices.
Source: BENNINGTON, VT—November 13, 2020—Southwestern Vermont Health Care