The shuttered Northridge Hospital Medical Center-Sherman Way will be converted into dormitories, classrooms, offices and a library for The King's College and Seminary, a ten-year-old school connected to the Church on the Way in Van Nuys. The property on Sherman Circle — where the Pacific Electric Red Cars of yore used to curve between Sherman Way and Van Nuys Boulevard — sold for $13.5 million and includes 6.75 acres, a seven-story tower and other buildings. The hospital closed two years ago. The site had been a hospital for many decades, originally as the home of Valley Receiving Hospital.