Proof that you don't know what you are talking about: the Navy Supply Corps School was purchased last year by the Board Of Regents (the University System of GA). They are probably going to use the property to add a med school to UGA.
Edit: the money they spent was to attract potential buyers, also they did a re-development study on how to best use the property as being a military base it had common infrastructure systems like water and electricity that presented challenges as far as zoning etc. for civilian use.
UGA's statement of interest in the property (1/16/07)
http://www.uga.edu/news/NavySchoolFinalVersion.pdf
This site probably hasn't been updated since 2007 or so, but you get the general idea:
http://www.navyschoolathens.com/