Image courtesy of Gratz College
The two will swap a 1989 building for equity stake come July 2025.
A piece of Cheltenham Township's colleges is about to transfer in ownership, but it will remain a part of the Jewish community.
Gratz College in Elkins Park announced recently that it will be transferring the building, known as The Ann Newman Building, over to the Jewish Federation of Greater Philadelphia. According to an article in the Jewish Exponent, the deal is part of a larger exchange between the two entities.
In return, the Federation will be purchasing Gratz’s equity stake in the 28-acre Mandell Campus, the post said. Constructed in 1989, the Ann Newman Building will be taken over by the Federation in July of 2025.
“This campus has meant a great deal to Gratz College, and we filled that space with meaning and educational excellence,” Gratz President Zev Eleff said. “We were really grateful to work with the Federation to achieve a common goal, which is to ensure that the Philadelphia Jewish community maximizes its physical space.”
For the full story, visit the article here.
