The Morning Sentinel reports (http://bit.ly/1VmnL0o ) the council voted unanimously Tuesday night to approve the $300,000 sale of the nearly one-acre site.

Colby already has bought five vacant downtown buildings with plans to create retail businesses, offices and a boutique hotel. The new dorm is part of Colby’s plan to create an entire program around students living in the dormitory and taking part in civic engagement and community service.

Developers supported the sale, saying investors are interested in doing business in Waterville.