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Stanford University plans to purchase the Notre Dame de Namur University campus in Belmont, Calif., Notre Dame de Namur announced Wednesday.

The private Roman Catholic university is in the process of converting into a primarily graduate institution, a path the university pursued after several years of declining enrollment and tuition revenue.

“This agreement between NDNU and Stanford gives NDNU the flexibility to grow again in new and exciting ways,” Beth Martin, president of Notre Dame de Namur, said in a statement. “We will be able to continue the programs for which we are so well known, and to add new programs directly targeted to changing student needs, including a mix of in-person, hybrid, and fully online programs.”

Stanford will develop a plan for the 50-acre campus with input from Notre Dame de Namur, the Stanford community, the city of Belmont and local residents, according to a press release.

(This article has been updated to clarify that the purchase agreement between the institutions is not yet finalized.)