No lands of any private, nonprofit institution of higher education in the Commonwealth approved to confer degrees pursuant to Article 3 (§ 23.1-213 et seq.) of Chapter 2 of Title 23.1 that, at the time proceedings are instituted, (i) are located within 500 feet of any building erected and used for school purposes or (ii) surround the school buildings and are used as a campus, park, or athletic ground or field, shall be subject to condemnation for the purposes of public highways.