The Heritage Foundation of Williamson County, TN has officially exercised its option to purchase the former campus of O’More College of Design in Franklin, TN from Belmont University. In August 2018, the organization announced its intent to purchase the property. Yesterday, in a letter to Belmont President Dr. Bob Fisher, Heritage Foundation CEO Bari Beasley expressed gratitude and a target closing date on the property during first quarter of 2019.
Beasley said, “In less than four months, we have been able to secure over $5 million dollars in gifts and pledges which puts us in a position to purchase the property from Belmont University. This accomplishment is a testament to our generous donors who love Franklin and want to see it continue to flourish. Looking ahead to 2019, I will be completely focused on securing additional lead gifts so the entire vision for this project can be implemented in a timely manner.”
In addition to exercising the option to purchase, the Heritage Foundation also announced FirstBank as the key lending partner on the project.
Chairman of Middle Tennessee for FirstBank Gordon Inman said, “We are excited to partner with the Heritage Foundation on this iconic project. FirstBank is committed to supporting our local community and this partnership embodies that. The beautiful event center, gardens and educational components will add tremendous value to the Franklin community.”
President of the Heritage Foundation Board of Directors David Garrett added, “The Heritage Foundation is a beloved organization in this community. Because of that, the response to our lending need was remarkable. We are so grateful for all our financial partners and look forward to continuing to work with them in various capacities. We are especially appreciative of FirstBank’s competitive offering which is a sound financial decision for the future of this organization.”
The former O’More campus sits at 423 S. Margin St. in downtown Franklin, TN. The nonprofit Foundation plans to restore and rehabilitate the property into a multi-use campus with new educational offerings, publicly displayed collections and other components, to be announced, that will add to the economic vitality of the area. To participate in the capital campaign, contact Heritage Foundation CEO Bari Beasley at [email protected]