Iona College is adding another property to its real estate portfolio.
The college has agreed to buy 654 North Ave. in New Rochelle, which is home to Cannone's Pizza and Campus Wings.
Officials said the purchase will be within the next 30 days.
What will happen to the property will be determined by Iona's campus master planning process.
A public meeting will be held at 7 p.m. October 7 to share updates on the master plan process and other development interests on North Avenue.
The session will be held in the Romita Auditorium in the Ryan Library.
Anne Marie Schettini-Lynch, senior vice president for finance and administration, said the college is looking forward to creating more partnership as it explores options for building student housing and other facilities.
"We support economically viable development and revitalization of North Avenue and see this as an opportunity to extend that interest and our partnerships with New Rochelle business owners and developers," she said.
The City of New Rochelle approved in June zoning supporting college-use development on North Avenue.