President Josiah Bunting III leaving for Hampden-Sydney College in spring 1977 contributed to the problems the college was having. Rather than continue to struggle, the college's trustees voted to sell the campus to Pace University, a New York City-based institution.
President Josiah Bunting III's departure from Hampden-Sydney College in spring 1977 worsened the college's challenges. In response, the college's governing body chose to divest itself of the campus by selling it to Pace University, a well-established educational organization based in New York City.