Some new residents will be moving into Little Italy.
The deal was closed on Friday as Urban Village Development finalized the purchase of two former Grace University buildings. The development company has plans to turn the administration building and dorms into 167 apartments.
Renovations on the buildings is expected to start soon, but no word yet on when the units will be ready for move in.
Grace University closed at the end of the 2018 school year due after struggling with low enrollment and financial challenges.