By Ryan Mulligan – Reporter, Philadelphia Business Journal
May 25, 2023
Saint Joseph’s University is starting construction on a new residential hall in the fall. When it does, it will set off a domino effect of new projects that will transform the campus over the next five to seven years.
St. Joe’s plans to spend some $300 million on projects as part of the school’s master plan, originally released publicly in 2019. That plan includes the new residence hall, demolition of two of the school’s older buildings, an addition to its science center, a new student center, renovated campus recreation facilities and an expansion of athletic facilities.
To fund some of those projects, including the residence hall, recreation center improvements and the 35,000-square-foot science center addition, which are part of the first phase of the master plan, the school issued a $200 million bond last year. The remaining $100 million will come from fundraising, according to Joe Kender, the school’s senior vice president for university relations. Should additional funds be required, they will come from philanthropic gifts and donations, he added. To support ongoing fundraising efforts, the school last May launched a $300 million capital campaign.