A new primary school is to be built on the site
The All Hallows College in Dublin and its campus have been sold to Dublin City University (DCU).
DCU purchased the 6.74 hectare site in Drumcondra following a tender process.
It was announced back in 2014 that the All Hallows College was to close due to a drop in student numbers.
President of All Hallows College, Dr Patrick McDevitt, said: "This sale will secure, as part of the legacy, the educational mission of the campus and facilitate existing students in the completion of their studies".
All Hallows and DCU have worked closely together since 2004 as a linked college.
DCU says: "An intensive investment programme by the university will ensure a fully active academic campus from 2016, becoming a core element of the incorporation programme of St Patrick's College, Drumcondra, Mater Dei Institute of Education and the Church of Ireland College of Education into DCU".
It says a range of academic schools and support units will be established on the new campus.
"The existing 100 bed student accommodation will be upgraded and plans are underway to develop additional accommodation units to meet the demands of a growing student body", DCU adds.
A new primary school will also be built on the site, in partnership with the Department of Education, to cater for children in the Dublin 9 area.
DCU president Professor Brian MacCraith said: "We are proud to continue the long tradition of excellence in education and social justice that has been embodied by All Hallows for 174 years".
"The DCU All Hallows campus is an integral part of our vision for a new DCU and, as Ireland's fastest growing university, we will acquire the infrastructural capacity to grow and provide for the needs of our students", he added.