Fanshawe College has announced it will not move forward with the purchase of the Market Tower building in downtown London.

The decision follows "an extensive due diligence review,' but Fanshawe officials say they are continuing to explore expansion options.

President  Peter Devlin said in a statement "Fanshawe College remains committed to working with the City of London as we move forward with our plans to expand our presence in downtown London...We are continuing to actively explore a range of options which will ensure the most appropriate learning environment for an additional 600 students in downtown London.”

Mayor Joe Fontana added “We are pleased that Fanshawe College remains committed to finding more space downtown. The college’s presence in the core is a key component of our continuing rejuvenation of downtown London.”

A week ago Fanshawe opened the doors of its new Centre for Digital and Performance Arts (CDPA), just down the block from the Market Tower on Dundas Street.

The 50,000-square-foot building is equipped for over 400 students and staff and is home to programs like 3D Animation and Character Design, Interactive Media Design and Production, Technical Costume Design and Theatre Arts.