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Hellenic College moves to sell Brookline land amid financial rebound
School officials say the sale will further bolster the school’s endowment, following pre-pandemic struggles.
As small colleges across Massachusetts struggle to stay afloat, Hellenic College and Holy Cross Greek Orthodox School of Theology is taking a different path: selling up to 25 acres of land for conservation and directing $25 million into its endowment, a move leaders say will help secure the Brookline institution’s long-term future.
Over the past five years, the school has successfully turned its financial situation around. As of June 30, 2025, the endowment was just over $38 million, up from $28.5 million in 2019, according to financial statements.
“We’re at a moment of transformational change at HCHC, just as our Church stands at an inflection point,” President Demetrios Katos and in a statement. “The five-year plan presented to the Trustees reimagines this sacred institution, expanding programs that equip future clergy and lay leaders to guide the Orthodox Church into its next century.”
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The Hellenic College is an independent institution affiliated with the Greek Orthodox Archdiocese of America.
The accredited school comprises an undergraduate liberal arts college and a graduate school of theology, whose mission is to prepare students to become priests and lay leaders in the Orthodox community.
According to a news update from the school, the trustees of the 88-year-old institution voted unanimously on Dec. 9 to approve the sale of the land.
After the sale, the land will be placed into a permanent trust with The Trustees of Reservations, a statewide conservation and preservation nonprofit that stewards 120 protected sites.
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HCHC’s leadership has contemplated the best use of the undeveloped portion of campus property for decades. The news release stated that the land poses a safety concern to the campus community and is a potential liability for the institution.
The parcel, which is non-developable primarily due to its steep grade and high ecological value, abuts the Emerald Necklace park system, which links Jamaica Pond and the Francis Parkman Memorial.
The preservation will ensure the natural area remains undeveloped and becomes a publicly accessible green space with maintained trails and paths.
The expected conservation proceeds, estimated at around $25 million, will be allocated entirely to the school’s endowment.
The school will retain about 30 acres of developable land to accommodate the future institutional needs.
The board also approved a comprehensive five-year strategic vision with goals to grow enrollment to 500 students, expand revenue, and increase the endowment and cash flow.
The announcement of the sale also came after the school received its largest grant ever of $7.4 million from the Lilly Endowment. The funding will support a redesign of the Master of Divinity program and the establishment of an intensive parish internship practicum.
“This is mutually beneficial for both HCHC and the wider community,” Archbishop Elpidophoros, the chairman of the board, said in a statement. “It secures the beauty of God’s creation for future generations while at the same time securing the permanence of funding for our beloved school.”
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