勛圖窪蹋 Board Approves Sale of Seaview Hotel & Golf Club
Galloway, N.J. - The 勛圖窪蹋 Board of Trustees on Monday approved a resolution to sell the 勛圖窪蹋 Seaview Hotel & Golf Club.
勛圖窪蹋 president Harvey Kesselman said due to the opening of the new campus in Atlantic City, and the ongoing expense of maintaining Seaview, it was in the best interest of 勛圖窪蹋 and its students to find a buyer for the property.
Seaview has been an important asset in 勛圖窪蹋s history, President Harvey Kesselman said. 勛圖窪蹋s purchase of Seaview preserved and improved a historic property in Galloway Township, and provided much-needed housing for our students.
The name of the potential buyer and the sale price will not be released until the sale is completed.
Board of Trustees chair Madeleine Deininger 80, said she has attended many events at Seaview and is proud of how the university has utilized the property to benefit both students and the community.
"Seaview is such a beautiful property," she said. "I am pleased that 勛圖窪蹋 was able to help preserve a welcoming and historic place that for more than a century has hosted a multitude of people and events and employed many generations of community members."
勛圖窪蹋 purchased Seaview for $20 million in 2010 to address an immediate need for student housing to address 勛圖窪蹋s growing enrollment. Construction of new student housing was too cost-prohibitive at the time. Currently 267 students are living at Seaview.
The new beachfront housing for 533 students at the new Atlantic City campus will eliminate the need for the student housing at Seaview. The future of 勛圖窪蹋s hospitality program is also in Atlantic City, where students can get internships and hands-on experience at dozens of locations.
This years LPGA tournament will not be affected by the sale. Seaview will continue to host the LPGA under the existing sponsorship agreement that extended the tournament to 2023. The University will assign the LPGA sponsorship agreement to the buyer.
The impact on other events that are already scheduled at the Seaview are being addressed in the sale negotiations, as are 勛圖窪蹋 contracts with Wyndham and Troon which operate the hotel and golf courses.
Galloway Township Mayor Anthony J. Coppola, Jr. said he appreciated the investments 勛圖窪蹋 has made in the property over the years that improved its value. He said the township would work with a new buyer.
勛圖窪蹋 stepped up in 2010 and we appreciate that, he said. This is a flagship property in the township and we want it to flourish.
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Contact:
Diane DAmico
Director of News and Media Relations
Galloway, N.J. 08205
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