The college plans to convert the house, a city landmark at 34-56 107th Street, into a museum that would open in three years.
The college planned to expand their building to accommodate for the number of growing students.
At that time tuition was $47,000 and the college planned to eventually grow to 400 students.
The college had planned to spend another $500,000 to turn the basement into a large studio for artists.
The three colleges were also planning to build a £300,000,000 new campus.
The college plans to enroll students in those programs beginning fall quarter of 2013.
The 21-acre complex is surrounded by more than 300 acres that the college plans to preserve as open space.
Not surprisingly many families also try to keep their college plans to themselves.
The colleges plan to share support services and certain facilities.
The college plans to add eight more bachelor's degrees in 2014.