Stranmillis and Queen's are to merge
Stranmillis University College in Belfast is to merge with the city's Queen's University.
Queen's has agreed to build "a world class centre of excellence" at the teaching college.
The chairman of Stranmillis governing body, Steve Costello, said it might be hard for some people to accept.
"We'll in principle merge with Queen's University and create the Stranmillis School of Education of Queen's University on this site," he said.
"It is a difficult decision but we're sure it's the right decision for staff, for students, for the education service and for Northern Ireland plc."
Stranmillis and St Mary's university colleges have both faced a fall in the number of students they can accept, due to a fall in pupils in schools.
Both have diversified into non-teaching degrees but it is believed the government has called a halt to the development of further courses.
St Mary's has said that it is opposed to any merger.
Stranmillis heard a presentation of Queen's bid on Thursday.