New York seminary sells Desmond Tutu Center: The Church of England Newspaper, September 23, 2012 p 6. September 26, 2012Posted by geoconger in Church of England Newspaper, The Episcopal Church.
Tags: General Theological Seminary, theological education
The Episcopal Church’s General Theological Seminary (GTS) in New York has sold the bulk of its Desmond Tutu Center to hotel developers. On 13 Sept 2012 GTS president the Rev. Lang Lowery announced that the “hotel” portion of the Tutu Center, consisting of 60 guestrooms, had been sold to The Brodsky Organization for use as a commercial hotel. The seminary’s refectory, two conference spaces and some smaller rooms housed in the Tutu Center will remain with the school.
The sale is part of the 194-year old school’s Plan to Choose Life programme to eliminate debt. Funds from real estate sales have enabled it to rebuild its endowment, refurbish student accommodation and hire three new instructors.
“I have been privileged to serve in this time of amazing turnaround for General Seminary,” said President Lowrey,who added “We just need to remember that the Seminary is by no means fully self-sufficient financially. We must increase the endowment, and we still have a material way to go to reach a balanced budget.”
First printed in The Church of England Newspaper.