Archdiocese Selling Cardinal's Home for $10M

The Archdiocese of Philadelphia is selling the cardinal's residence to an adjacent Roman Catholic university for $10 million.
 
Saint Joseph's University announced Friday that it signed a letter of intent with church officials to acquire the nearly 9-acre property. The purchase is expected to close in a few weeks.
 
The land includes a three-story main building with more than 23,000 square feet, and two additional buildings. The university did not specify how the property would be used.
 
The residence is one of several properties being sold by the archdiocese as it tries to close a budget deficit. Next week, officials will auction a sprawling beachfront villa in New Jersey that had been used as a vacation home for priests.
 
A church spokesman did not immediately return a request for comment.