The defunct Green Mountain College campus in Poultney, Vermont, is set to be purchased by evangelist Tommie Zito, who plans to transform the property into a Christian institution named Z University. The seller is whiskey mogul Raj Peter Bhakta, a former contestant on "The Apprentice."
Zito, a traveling evangelist from Florida, confirmed the sale to The Wall Street Journal, though the sale has not yet closed and the price was not disclosed. Bhakta acquired the 115-acre campus at auction in 2020 for $4.5 million, a significant reduction from its previous asking price, following the college's closure in 2019 due to declining enrollment.
Initially, Bhakta had intended to convert the property into a luxury resort but faced obstacles from local authorities. He later stated he would offer the property to individuals or groups who shared his vision for reshaping America, emphasizing a spiritual revival of the Christian faith.
Bhakta's initial investment covered the property, which includes dormitories, classrooms, athletic facilities, and farmland. He had previously estimated that restoring the campus could cost up to $200 million, in addition to substantial annual operating and upkeep expenses.
Zito expressed his intention to house approximately 850 students at the new Z University. Planned academic programs include evangelism, business, government, and music. He acknowledged past challenges with the property but stated his intention to create a "fresh thing" with the new institution.