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The partnership between Grande Venues, a historic property developer, and the Hiawatha Institute for Indigenous Knowledge submitted a revised proposal Tuesday. The initial plan included the creation of an international boarding school. However, that idea has been dropped from the latest proposal.

According to Les Lo Baugh, president of the Hiawatha Institute, and Paul Warshauer, chairman of Grande Venues, they were notified by CBRE, Wells College's realtor, that "the terms had been changed substantially and made more challenging." A deadline to submit a revised offer was set for 5 p.m. Tuesday.

The new plan includes the Hiawatha Institute, a proposed Indigenous college that would occupy a portion of the campus. The partnership also plans to develop apartment housing for seniors on site.

The proposal would allow for "use of existing facilities by a college, school or other educational institution." 

"The revised proposal offers a significant financial commitment to purchase, rehabilitate and re-purpose the Wells campus," Lo Baugh and Warshauer said.

Wells College closed in June and its asset disposition process includes the sale of the 127-acre campus. In October, the college's board of trustees announced that CBRE — a global commercial real estate firm — was selected to market the property. CBRE listed the campus for sale in November.

The college and CBRE held a public meeting in January to explain the sale process and provide an update. CBRE's representatives said there was "serious interest" from developers.

A call for offers was issued in February, with submissions due by March 13. Wells College has not revealed the exact number, but said it received "multiple offers" for the campus.

Two of the entities that submitted offers announced their plans, including the partnership between Grande Venues and the Hiawatha Institute. The other is the Cleveland Commission for Wells, an alumni group that formed after the college's closure announcement in April 2024. The organization submitted an offer to buy the campus with the goal of restoring its use as a higher education institution.

Wells College's board of trustees said it began the process of evaluating the offers. In a recent message posted on the school's website, the board said that "while the college's first responsibility is to meet its financial obligations, many factors will influence a decision to accept a bid for the campus."

The board continued, "College leadership and CBRE believe it is important that any prospective buyer understands the longstanding relationship between Wells and the village community, including the community's historical access to campus."

The sale of the campus must be approved by regulators, including the state attorney general's office.