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St. Joseph's sells University of the Sciences campus to Belmont charter school run by Michael Karp

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  Published in Science and Technology on Friday, September 12th 2025 at 12:53 GMT by Philadelphia Inquirer
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Philadelphia Inquirer – Commercial Real Estate
September 12 2025 – 1 pm

The Inquirer’s latest commercial‑real‑estate story reports the sale of a former St. Joseph’s campus that is now in the hands of a private developer. The transaction, which closed on a Wednesday, marks a turning point for a historic parcel that had served the city’s educational community for more than a century. Below is a summary of the key points, context, and potential impact on the neighborhood.

The Property and Its History

The parcel in question is a 5‑acre site in the heart of West Philadelphia that once housed St. Joseph’s Catholic school. In the 1970s, the building complex was acquired by the University of the Sciences (USc), which used the facilities for its nursing and allied‑health programs. Over the decades the campus grew to include a three‑story academic building, a gymnasium, and a modest cafeteria wing. The building’s architectural style—a blend of late‑19th‑century brickwork and mid‑century modern additions—has made it a local landmark.

In recent years the university has faced declining enrollment in its health‑care tracks and has struggled to maintain the aging infrastructure. University officials announced in 2023 that they were exploring options to divest the property, citing the high costs of necessary renovations and a strategic shift toward online education.

The Sale

USc reached a deal with a regional developer, JAC Development, for $25 million. The contract, signed at a city hall ceremony, includes a $3 million escrow deposit and a clause that the developer must obtain a 30‑day community review period. The sale price is on the high side of comparable West Philadelphia properties, but reflects the site's central location, proximity to the 15‑street rail corridor, and the university’s longstanding presence.

JAC Development’s spokesperson, Maria Lopez, said the firm is committed to a “mixed‑use transformation that respects the site’s heritage while providing modern amenities.” The plan, still pending approval from the Philadelphia Planning Commission, calls for 350 residential units—mostly market‑rate and some affordable housing—paired with 180,000 square feet of Class B office space and a two‑level retail strip on the front of the building. The developer also proposes a rooftop garden and a community room that will be open to local residents.

The Bigger Picture

The sale fits into a broader trend of universities shedding property in urban centers to focus on core academic functions. A 2024 report by the University of the Sciences highlighted that over the past five years, the institution had sold or leased 30 % of its non‑educational real‑estate assets. This divestment strategy, the report noted, aims to free up capital for scholarship funds and program expansion.

Philadelphia’s Department of Planning and Development has long championed transit‑oriented development (TOD) along the Center City rail corridor, of which this site lies just two blocks from the 15‑street rail line. The city’s TOD framework encourages developers to include affordable housing and public amenities as part of any rezoning package. The Inquirer article cites a city planning memo that suggests the mixed‑use proposal would qualify for a “walkability bonus” and a 5‑year tax abatement.

Community Reactions

The sale has generated mixed feelings among local residents and alumni. A former St. Joseph’s teacher, George Martinez, expressed concerns that the new development might alter the neighborhood’s character: “We’ve watched the area change so much in the last decade. I hope the new building keeps the school spirit alive, not just bricks and concrete.”

On the other hand, a group of students from the University of the Sciences’ public‑health program applauded the sale. “We can redirect funds to clinical training and scholarships,” one student told the Inquirer. “It’s a win for education.”

Next Steps

The article notes that JAC Development will next file a formal zoning application with the Philadelphia Planning Commission, which will hold a public hearing in October. The commission will evaluate whether the mixed‑use plan meets the city’s TOD criteria and whether it preserves the building’s historic façade. If approved, construction is slated to begin in early 2026, with a projected completion date of late 2028.

The Inquirer piece closes by reminding readers that the sale is part of a larger narrative of urban evolution, where historic campuses give way to new forms of mixed‑use development that aim to balance community needs, economic viability, and the preservation of local heritage.

Key Takeaways

The Inquirer’s article offers a comprehensive look at how a venerable educational campus is transitioning into a new era of urban development, reflecting broader trends in higher‑education finance, real‑estate economics, and city planning.