Beth Medrash Govoha of Lakewood is in agreement with Georgian Court University, also of Lakewood, to buy a large parcel of land in order to build apartment buildings, The Voice of Lakewood is reporting.
According to The Voice report, BMG has entered into a contract with the University to buy 44 acres of its current campus, upon which the yeshiva plans to build 13 buildings with a total of 465 apartments to address the dearth of living spaces for its yungeleit.
The parcel of land – bordered on three sides by 14th Street, 9th Street, and Forest Avenue – represents less than a third of Georgian Court University’s sprawling 157-acre campus.
Askanim have told The Voice that although the new housing units will assist to provide places to live for a large number of yungerleit, it will not ease the ongoing housing crunch in Lakewood.
BMG’s deal with Georgian Court University was reportedly the result of years of work on the part of former BMG CEO Aaron Kotler, who departed the institution at the end of 2021.
The university agreed to go into the deal in part because of its failing finances, The Voice says.
The university has been struggling to attract students to the school for over a decade now, and the sale of this parcel of land is expected to keep the college financially solvent for several more years.
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10 Responses
Beautiful
450 families is a community ofcourse they will build a huge beis medrash which will become their own bmg building … without needing 2 cars ..and addl gridlock
think a elementry school w/o parellel classes serves about 200 families at most
brochoh vehatzlocho
It is about time!
What “housing crunch in Lakewood”??
They’ve been building homes right, left and center all over, around and near Lakewood for the last 20+ years and still strongly going forward.
Thank you R Aaron Kotler for delivering once again!
will the apartments be sold or section 8?
This is a very interesting and long overdue development. I remember that BMG was trying to buy Georgian Court back in the latter days of Rav Ahron zt”l, and the early days of Reb Shneur zt”l.
Unfortunately it sounds like they’re going to do the usual land-and-neighborhood abuse generally done all over Lakewood, by cramming 500 families into an are probably not large enough, and these 500 families will have to share with the rest of the city the already overburdened access streets in the town, adding to the existing intolerable traffic mess Lakewood deals with today.
While talks have ongoing for a while, this announcement is premature. Nice to talk about, but for now a fantasy. This is the absolute truth and not speculation.
@FrumWhere
Monsey isn’t much better.
UJM clearly you don’t live in Lakewood. There are no apartments available, haven’t been for years already, and rent is up more than 100% since about 10 years ago.