Golden Gate seminary sells site, will move
After futile efforts to build homes for sale on its 126-acre campus amid prime real estate near San Francisco Bay, the Southern Baptist–affiliated Golden Gate Theological Seminary is selling its site and making plans to relocate in Southern California.
Seminary president Jeff Iorg announced the sale on April 1 at the Mill Valley campus for an undisclosed amount to North Coast Land Holdings, a family foundation. “The final agreement will result in resources for a new primary campus in Southern California, a new commuter campus in the Bay Area, . . . as well as a substantial addition to the seminary’s endowment,” said Iorg, as reported by Baptist Press.
The decision by seminary trustees to sell the campus came two years after Marin County officials rejected the school’s plan to build 117 new structures, including 74 homes for private purchase, because it conflicted with a 1984 master plan, according to Associated Baptist Press. Homes on average more sell for more than $1 million near the campus, which is seven miles north of the Golden Gate Bridge.
Iorg assured current enrollees at the seminary that their degree progress will not be interrupted for the next two years because the school has a lease-back agreement for the current campus. Student housing will also stay open for the next two years.
The seminary has a two-acre branch campus in Brea, California. But Iorg did not indicate where the new main campus would be situated except to say the seminary would benefit from continued population growth in Southern California.