Eastern Kentucky University has acquired Elmwood, a historical house located on 20 acres across Lancaster Avenue from the school's campus in Richmond.
The university said Monday that the Châteauesque-style home and surrounding acreage was a gift from the estate of the late Emma Watts to the Eastern Kentucky University Foundation. The foundation will reimburse the trust about $400,000 for recent improvements to the property.
EKU president Doug Whitlock said the gift is "a wonderful enhancement to our campus and is of immense strategic importance to the future of the university."
No decision about the house's future has been made, but Whitlock said "it would make a remarkable alumni/development center."