The redevelopment of the College of Saint Rose campus took a major step forward on Thursday.

The Albany County Pine Hills Land Authority’s $35 million bid to buy the campus was officially approved in bankruptcy court. The authority submitted the winning bid during an auction on Dec. 12.

The college shut down at the end of the 2023-2024 academic year, citing declining enrollment and financial challenges.

The Albany County Pine Hills Land Authority was created to submit a bid to redevelop the properties.

“From the beginning, we believed it was in the best interest of all parties to keep the campus intact for unified development. I would like to thank our board members, team and Albany County Executive Daniel McCoy, who worked tirelessly to ensure that we submitted a fair and competitive bid. We remain committed to collaborating with the Pine Hills neighborhood as we seek the best use of these properties going forward,” said ACPHLA CEO Kevin O’Connor in a statement.