NEW YORK (AP) - New York City’s Jewish Theological Seminary has struck a $96 million deal to redevelop its Morningside Heights campus.
The Wall Street Journal reports that the institution is selling a parcel of land on its campus, air rights to develop that land and an off-site residence hall to a real-estate investment and development firm.
The redevelopment plans include a performing arts space and a new library that will hold its renowned Judaic collection. Remaining funds will be used to strengthen its endowment.
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Seminary Chancellor Arnie Eisen says the institution wants to be a community where there’s a constant flow of people and ideas into and out of its buildings.
The 130-year-old campus trains conservative rabbis and cantors as well as educators and lay leaders of all denominations.
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