LITTLE ROCK, Ark. — On Monday, Heifer International announced that a plan for a buyer affiliated with Lyon College to buy its headquarters in Little Rock has now fallen through.
In a statement to Arkansas Business, Heifer International explained that the purchase agreement to sell the Little Rock campus to OneHealth Education Group of Little Rock has expired and that the sale will no longer be completed as they previously planned.
They went on to explain that the buyer told them that they would be 'unable to complete the purchase within the timeline agreed upon.'
However, Heifer declined to talk about any of the financial details of their proposed agreement.
OneHealth had previously planned to buy the over 90,000 square-foot building and land in downtown Little Rock for Lyon's new Institute for Health Sciences, where they would oversee both Lyon's dental and veterinary schools.
CEO of One Health, Merrit Dake said in a statement that their company remains "committed to helping Lyon College build these two schools in Little Rock.”
In a separate statement, Lyon College President Dr. Melissa Taverner stated that their institution is committed to establishing the state’s first veterinary and dental schools in Central Arkansas.
“We are actively collaborating with the Little Rock Regional Chamber of Commerce, the City of Little Rock, the Clinton Foundation, and the Downtown Little Rock Partnership on our planned dental and veterinary medicine schools, ensuring that the academic programs continue to progress with unwavering momentum,” Dr. Taverner added.
Lyon College first announced plans for the schools in April 2022 and has since named deans for both schools and has also begun the accreditation process.
Dr. Taverner explained that Lyon College still plans to stick with its 2025 projected opening dates for both the veterinary and dental schools.
A spokesperson with the college explained that while the school is still moving forward with the accreditation process, they will have to re-evaluate the timelines of when everything will 'come to fruition.'
“This is something that’s new that’s transpired,” the spokesperson said. “This news is so new to us. We’re just having to look at everything.”
However, Heifer said it is going to explore options for the property.
“Heifer International and the Heifer Foundation had planned to lease back portions of the office building following the sale,” a statement said. Both organizations “remain strongly committed to their presence in Little Rock” and plan to remain based in the city.