Albany, NY (News10) -- Albany County Executive Dan McCoy gathered the community on the former College of Saint Rose campus for a major purchase announcement that was several months in the making.

University at Albany plans to buy Centennial Hall dormitory for $12 million dollars.

"It's been a journey, but I knew when I took this on, I needed partners. And I knew we needed extraordinary partners," McCoy addressed the crowd. "We have that partner in the University at Albany."

"This is another commitment of the University at Albany to continue to work, to continue to partner with the city, and also serve the needs of the University at Albany," said University President Havidan Rodriguez.

The dorm will be used to address the university's student housing shortage, and both that the 225-bed

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