Most the land behind Burlington College has officially changed hands. On Tuesday, the school announced that it sold just more than 27 acres of its campus to developer Eric Farrell. This includes a large tract of lakefront land, a cottage on North Avenue and an apartment building on Lakeview Terrace.

Farrell intends to construct several hundred units of mixed housing on the campus site. A group of residents who want to preserve the land as open space are organizing to oppose his plan. Meanwhile, city officials say they are discussing with Farrell the possibility of preserving public access to certain parts of the property. 

The deal, first announced in October, has changed several times since then. College officials have said that the sale will bring more financial security to the struggling institution. The recently appointed president, Carol Moore, said in a statement Tuesday, "Burlington College has a bright future and this is the first step in that direction."

The college is keeping six acres and the North Avenue building where classes are held. It plans to sell the larger adjacent building — formerly an orphanage — to Farrell next year.