JTS Completes Sale of Morningside Heights Parcel
The Jewish Theological Seminary (JTS) completed the sale of a parcel on their Morningside Heights campus to developer Savanna. the proceeds will go towards creating a new academic center and residence hall on JTS’s campus. The academic center will include a new library (including a new home for JTS’s renowned collection of rare books and scrolls), classrooms, and event space.
Beginning in fall, 2014, U3 Advisors was engaged by JTS as the lead project manager and real estate advisor to undertake an ambitious project to reshape JTS’ campus in Morningside Heights. The plan calls for the demolition of JTS’ existing library facility and the redevelopment of a portion of the site with a new mixed-use JTS building. The new mixed-use JTS building will include a new library facility showcasing JTS’ unparalleled special collection of Hebraic and Judaic rare books and scrolls (the largest and most extensive collection in the Western Hemisphere), state of the art academic spaces, an auditorium, conference space, and a new residence hall. U3A worked closely with JTS leadership to complete an intensive programming phase with its selected architect for the mixed-use building, execute the land transaction with the third-party developer, and navigate the construction management process.
Read more about U3A’s engagement with JTS here.