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NEWORLEANS -- Xavier University Preparatory High School will remain open after a plan was put forward by a group of alumni to purchase the Uptown school, according to LaKeisha Hammett, a spokesperson representing the alumni.

Six alumni of the school formed 5116 Magazine Street Preparatory High School Corporation to takeover the school from the Sisters of Blessed Sacrament, according to Hammett. The alumni entered into an agreement to purchase the school.

'We were deeply saddened to learn that the SBS decided to close Xavier Prep; however, we were also very grateful to the leadership for giving us the opportunity to acquire the school property. Although the Sisters will have no affiliation with the new school, we the alumni who benefited so greatly from their guidance appreciate the legacy they leave behind,' Karen Wells Roby said in a statement.

In February, the school announced that financial pressures were forcing the Catholic all-girls high school that has educated young African-Americans Uptown since 1915 was being forced to close.

The school will open as an independent Catholic school for the 2013-2014 school year, but will have the support from the Archdiocese of the New Orleans, Hammett said.

'The corporation has begun efforts to assemble the faculty and administrators and expects to attract a teaching and administrative staff familiar to the students. Although other Catholic schools in the community welcomed students to apply and interview for the upcoming school year, the schools did so with the understanding that students would have the option of returning,' Hammet said.

A meeting will be held at the school's auditorium to give information for the families, students, alumni and faculty.

Xavier Prep has educated generations of local African American and minority students for 98 years. It opened as a coeducational school but became an all-girls' school in 1970.

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