News Release

Dalton State Foundation Acquires CRI Building for College

July 30, 2012

DSC-CRI closing deal
On hand for the closing of the deal in which the Dalton State Foundation acquired the CRI building and property on College Drive were, from left, Dalton Mayor and Dalton State Alumnus David Pennington; Dalton State President Dr. John Schwenn; Werner Braun, President of the Carpet and Rug Institute; and David Elrod, Director of Institutional Advancement for Dalton State College.

The Dalton State Foundation has purchased the Carpet and Rug Institute property on College Drive for use by Dalton State College.

The purchase price of $1 million for the building and five acres of property is well below market value, and represents a gift to the College from the members of CRI, according to Dalton State President Dr. John Schwenn.

The CRI has moved to the old post office building in downtown Dalton, a building most recently occupied by Dalton Public Schools that has been renovated and refurbished and is now home to CRI and the Greater Dalton Chamber of Commerce.

“This transaction only happened because leaders of the floorcovering industry, in concert and acting through CRI, envisioned years ago that such an advantageous deal could be crafted to offer the CRI property for sale to the Foundation and move CRI’s national headquarters to downtown Dalton,” Dr. Schwenn said. “This is good for us, good for CRI, and good for downtown and we are honored that industry leadership had the foresight to show its support for Dalton State in this way.”

The property has long been identified as a key acquisition for the College’s future growth, according to Dr. Schwenn. The Foundation will transfer ownership of the property to the College to use however it deems most effective and appropriate.

“Not only is the property a five-acre parcel, but it also comes with a 15,000-square foot building suitable for any number of institutional operations,” he said. “The property also comes with its own parking which, on a college campus is always a plus.”

“This continues the Foundation’s acquisition of properties around the College’s original 136-acre campus,” said David Elrod, Director of Institutional Advancement for Dalton State. “A $4.6 million strategic property acquisition fund was a cornerstone of the Foundation’s recent ‘Fulfilling the Vision’ fundraising campaign. We raised that money, and now we’re investing it in the College’s future with acquisitions such as this one.”

“The Dalton City Council is very pleased to be able to participate in a transaction that will benefit so many people,” said Dalton Mayor David Pennington who is also an alumnus of Dalton State. “Dalton State gets a much needed building and we were able to refurbish an historic building downtown which now houses two of our community’s most important business organizations. This helps our downtown. I personally want to thank everyone that helped make this happen.”

“Everyone who worked for or visited the Carpet and Rug Institute headquarters building was struck by its unique architecture and beautiful surroundings,” said CRI President Werner Braun. “That site has served a notable role in the history of Dalton and the carpet industry, and we are gratified that Dalton State will continue that legacy.”

Elrod said that the significance of the acquisition extends beyond the mere purchase of property. “We do this not for the acreage in itself, but for the legacy we build for future generations who will follow us, whether they be the thousands of students who will come here to study, the hundreds of faculty and staff who will come here to teach and to serve, or the millions of residents of Northwest Georgia who all benefit from Dalton State’s presence in the region.”

Dalton State, 650 College Drive, Dalton, GA 30720
706.272.4436 • 1.800.829.4436 • www.daltonstate.edu