A property developer is buying the Rowland Hall school building near Salt Lake City’s 9th and 9th neighborhood.

According to a real estate broker, the new owners plan to turn it into off-campus student housing and appear likely to keep the historic building.

The private school entered into an agreement with Landmark Properties and 843 Place, LLC, in May, according to a memorandum from the Salt Lake County recorder’s office. Kip Paul, a project broker and vice chair of investment sales for the real estate firm Cushman & Wakefield, confirmed the sale to The Salt Lake Tribune on Friday morning.

“The property is under contract and moving forward,” Paul wrote in an email, adding that the developer plans to build student housing.

Rowland Hall put the building, which has served grades six through 12 since 1984, up for sale last November. The school plans to move to a new campus near Sunnyside Avenue and Guardsman Way. The school also retains another campus nearby, which serves prekindergarten through fifth grade and has been open since 2002.

When the school initially announced the move in 2023, its leaders said they planned to move by fall 2026. That move is still happening on the planned schedule, Rowland Hall Head of School Mick Gee told The Tribune on Friday.

“In just 68 days,” he wrote in an email, “we will move into our new campus — an exciting and historic moment in our school’s history.”

Gee added that the school did not have “specific information about what the future holds for the Lincoln Street campus, as Rowland Hall is not involved in the transaction.”

“However,” he added, “we very much hope that the new owners will recognize and capitalize on the unique character of this historic space and its fantastic location in the heart of the 9th and 9th neighborhood.”

That wish appears likely to be granted. No new building permits have been filed for the property, and Paul said that Landmark Properties plans to retain the existing buildings and renovate, aiming to keep the character of the historic structure. The developer also plans to construct additional buildings on the property’s open space.

Landmark has not yet closed on the pending sale, first reported by Building Salt Lake. The planned closing date is April 1, 2027, Paul wrote in an email.

The memorandum from the recorder’s office does not include a sale price, and there was no price listed when the building went on the market. Interested buyers were instead expected to submit competitive bids for the property.

According to the developer’s website, Landmark Properties focuses on student-focused housing across the country, with apartment complexes in more than two dozen states. This will be the developer’s first property in Utah.

Landmark Properties did not respond to a Friday request for comment on the sale.

The original building on Lincoln Street was constructed more than a century ago and spans nearly 5 acres near the popular retail and restaurant area at the intersection of 900 East and 900 South.

“We make magic happen at the Lincoln campus, but the building was built in 1921,” Gee said at the time. “It was built for a school with a different kind of program and a different era.”

The new campus will include research labs, two gymnasiums and a theater. The ultimate goal, Gee said, is to unite the upper and lower schools into one campus.