In 1979, Mrs. Bone, an alumna and benefactor, sold the house to the Alumni Association to use as its headquarters. The following year, S. Truett Cathy, founder of Chick-fil-A restaurants and noted philanthropist, made a donation to the Association to purchase the mortgage and underwrote numerous repairs, in honor of his sister, Esther L Cathy, an alumna and long-time Association president.

The 16-room, Tudor-style house is complemented by the surrounding Peabody Gardens, established in the 1990s by graduates of Peabody High School.

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