The University of Southern California finalized a long-anticipated deal to shift management and day-to-day operations of Pasadena’s Gamble House to a new nonprofit organization, the Gamble House Conservancy.

Alhough it’s been in the works for more than a year and formally announced back in October, the deal was sealed on Tuesday, March 3 with an announcement from Pasadena Mayor Terry Tornek, who helped steward the effort.

Standing on the steps of the landmark home, Tornek said it was “a great day for the Gamble House,” telling the audience the fate of the historic site was “very much in doubt.”

By transferring the management to the new nonprofit, it took a burden off USC and assured the Gamble House would be well taken care of into the future, Tornek said in an earlier interview.

The folks who are managing the property have been doing so for years; all were transferred from the university’s employ to the nonprofit and very little will change for visitors, Tornek has said.

The nonprofit’s board of trustees include Gamble family representatives, a former dean of the USC School of Architecture as well as donors and supporters of the home, according to a news release from the city.

Former Gamble House director Edward “Ted” Bosley will serve as the chief executive of the Gable House Conservancy, it says.