Fairfield University Enters into Exclusive Agreement with Kleban Properties for Proposed Development of GE Property

Fairfield University Enters into Exclusive Agreement with Kleban Properties for Proposed Development of GE Property

Media Contact: Teddy DeRosa, tderosa@fairfield.edu, 203-254-4000 ext. 2118

Propose d Development would transform property into technology center with educational components.

FAIRFIELD, Conn. (March 28, 2016) — Fairfield University announced today that it has entered into an exclusive agreement with Kleban Properties , a leading national real-estate investment and development company located in Fairfield. The agreement would allow the University to work with Kleban on the transformation and development of a high-tech hub with a variety of educational components including an executive education center.

"Kleban Properties is pleased to be working with a leading institution like Fairfield," said Ken Kleban, President of Kleban Properties. "We have a strong history of working with Fairfield including the development of the downtown business accelerator, FUEL, and have been involved in the Dolan Business School's entrepreneurial programs for many years. They are a top notch institution that will support the creation of jobs and the pursuit of technology and education."

Fairfield University recently re-launched its off-campus business accelerator and entrepreneurial lab, now called F.U.E.L. (Fairfield University Entrepreneurial Lab) that has seen success with start-up businesses like student-created SoccerGrlProbs, and local small businesses. The creation of FUEL was a three-way partnership, launched in 2012, between the Town of Fairfield, Kleban Properties and the University.

"We are delighted to partner with Kleban Properties in exploring the potential of this great property. The strength of Fairfield's nationally ranked academic programs and ability to provide expertise in both STEM and entrepreneurial related fields will compliment Kleban Properties proposed plans," said University President Jeffrey P. von Arx. "We couldn't be more excited about the potential development of this property for Fairfield University, the Town of Fairfield and the surrounding communities.”

Kleban Properties is currently exploring with GE the potential purchase and development of the 68-acre campus.

Kleban Properties is a value-added real estate developer headquartered in Fairfield, Connecticut. Kleban Properties owns and operates office, retail, and mixed-use properties in town centers across the East Coast.

Posted On: 03-28-2016 03:03 PM

Volume: 48 Number: 109