Georgian Court Sells 42 Acres In Lakewood To Beth Medrash Govoha, Which Plans Housing

LAKEWOOD, NJ — Georgian Court University, the private Catholic university in Lakewood, is selling 42 acres of land to Beth Medrash Govoha, the second-largest Orthodox Jewish yeshiva the university's president announced Wednesday.

Georgian Court officials would not disclose the sale price, but said negotiations have taken about two years, after a few years of on-and-off discussions.

"All the legal paperwork has been signed, but this will not happen overnight," said Stacey Ehling, a spokeswoman for the university. "There is a multi-year plan that includes a phased-in approach to the transfer of ownership, which is anticipated to begin this summer."

The 42 acres are on a "mostly unused and undeveloped" portion of Georgian Court University's property, which spans more than 150 acres, the university said in announcing the sale.

University president Joseph Marbach said the proceeds from the sale will allow Georgian Court to "fast-track projects under the university’s 2019 master plan, allowing for reinvestment in the historic heart of campus and the enhancement of facilities to meet the evolving needs of the GCU community and rapidly growing academic programs."

"While we have one of the healthiest endowments of any private educational institution in New Jersey, this deal monetizes our existing assets, namely our largely undeveloped and unused land. It allows us to expedite plans to further reinvest in our school," Marbach said in a news release.

"After many months of careful thought and planning on all parts, we are pleased to see this initiative moving forward," said Howard Friedman, chairman of the board of Beth Medrash Govoha. "It’s a win-win and a great next step for the future of Lakewood."

Georgian Court is planning to build a cutting-edge center for nursing and health sciences, which is one of its most well-known programs, to expand the program's offerings as the demand for nurses continues to grow rapidly.

In addition, the university is planning to update the 1899 Casino to be "a new, modern student center, to meet the needs of the 21st-century student and increase accessibility to some of our core support programs," the university said.

Updates are planned to the Mansion, which will be used as the hub for its administrative services, and student housing will be modernized to encourage additional enrollment of residential students. Many of its current students are commuters who live in the local area.

The land purchase will allow Beth Medrash Govoha, the second-largest yeshiva in the world and largest outside Israel, to add student housing, officials said.

"This expansion, which is close to the BMG campus, is needed and may ease the demand for housing while minimizing and even easing traffic and parking impacts in the area," the news release said.

Beth Medrash Govoha has 6,800 students enrolled in its undergraduate and graduate programs that focus on Talmudic studies, according to its website.

Georgian Court officials said the university has invested $20 million in campus renovations, updates, and improvements since 2015.

"The land deal and other funding will expand that total investment to $75 million over the next five years," officials said. "Advancement of the master plan through this transaction also allows us to realize the next generation of growth at GCU."

The announcement comes days after Beth Medrash Govoha was designated to receive $3 million in the $1.5 trillion omnibus spending bill signed by President Joe Biden. The bill describes the $3 million as being for a child care initiative.

A news release from Sens. Cory Booker and Robert Menendez announcing that funding said:

"The funding will be used to fund the acquisition of land on which to construct a nonprofit day care center with 20 classrooms and ancillary space. The modern, light-filled day care center will be designed to accommodate children in a safe, comfortable, and stimulating environment, providing important health, safety and educational benefits to Lakewood's children. The center will accept CCDBG vouchers as part of an effort to ensure the new facility serves low-income families, increasing the daycare slots available and allowing families to access quality, affordable childcare close to their home, school and/or place of work, fueling their mobility and supporting Lakewood's workforce."

CCDBG stands for Child Care and Development Block Grant, a federal program to expand child care access for low-income families.

Georgian Court University was founded in 1908 by the Sisters of Mercy, and in 1924 they purchased the estate of George Jay Gould, millionaire son of railroad tycoon Jay Gould, according to the Georgian Court website.

George Gould purchased 200 acres of land in 1896 and hired architect Bruce Price to transform it into a lavish country estate resembling an English estate of the Georgian period, which is where the property got its name, according the website. The property currently encompasses 156 acres.

Price designed the buildings and three of the four major gardens on the campus, which were created before 1910: the Classic or Italian Garden, the Sunken Garden or Lagoon, and the Formal Garden. The garden designer Takeo Shiota designed the Japanese Garden.

The university added the Wellness Garden in 2008.

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