Daily News | Gwynedd Mercy University sells 150 acres for $31.5 million; same land it bought for $12.1 million in 2018
The sale represents a significant amount of money for a college that operates on a $50 million budget.
“We remain focused on transforming our existing campus by adding more state-of-the-art facilities and technologies that support innovative teaching and learning initiatives designed to enhance existing programs and support new market-responsive programs,” the president said. “We are pleased we were able to come to an agreement with Beacon, which will use the property to support advancements in life sciences fields, an area that aligns with our focus on professional and healthcare innovation.
Enrollment is now is just over 2,300, D’Emilio said. Gwynedd Mercy, like a lot of colleges, has lost enrollment during the pandemic. But she said that’s not the reason for the sale and the college has not had layoffs or furloughs. The university decided to sell the land following a facilities planning process that looked at space needs and interest from buyers.
“It was about looking at all these factors in the facility master planning process,” she said, “coupled with the opportunities presented. It made sense for us.”Steve Purpura of Beacon said in a statement that the company would work with the township “in a thoughtful way to create a development plan” for the property. A spokesperson did not immediately respond to a request for more details.
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