Averett University has again extended a voting deadline for bondholders that would allow the sale of its north campus.

As of Friday — already a two-week extension of the original deadline — 44% of bondholders had voted in favor of consent items needed to pave the way for investors to buy the E. Stuart James North Campus for $18.15 million.

The university needs 50% of bondholders to approve it. So far, 99.81% of responding bondholders favor, states the document posted Monday outlining the latest extension.

Currently under financial strain, the Danville university is looking for ways to raise cash. In addition to selling property — including what was once the president's home — Averett has worked out an agreement for "regional investors" to buy the north campus and lease it back to the

See Full Page