Sacred Heart University acquires former GE headquarters for $31.5 million

The former site of GE’s global headquarters - Fairfield, CT

Fairfield, CT Approximately 200 members of the Sacred Heart University community, along with families and friends from the local neighborhood gathered for a tree-lighting December 7 on the grounds of the former GE global headquarters. This was the first public event at the site since the university announced that it would take possession of the property on December 16.

“One of the first things we heard when news broke of the purchase – especially on social media – was that folks hoped we would continue the tradition of the tree,” said SHU President John Petillo. “We did exactly that – in SHU style, of course.” The tree is decorated with more than 30,000 red and white lights. Attendees joined the SHU choirs, Santa Claus and the school’s mascot Big Red in singing Christmas songs while enjoying the complimentary hot chocolate and Christmas cookies.

“This is fabulous. There has never been an event like this on this side of town. I hope it becomes an annual tradition,” said one attendee.

Sacred Heart has exciting plans for the newly acquired property. “This is a transformational moment in the history of Sacred Heart University,” Petillo said. “With this property, SHU has a unique opportunity to contribute to education, research, health care and the community. It’s a once-in-a-lifetime opportunity for us, and it also reflects our long-standing relationship with GE that includes former GE CEO Jack Welch, for whom our College of Business is named.”

#188: The Sacred Heart University helped the crowd to get in the holiday spirit by singing carols at the West Campus, the former GE global headquarters, tree lighting on December 7, 2016. Photo by Tracy Deer-Mirek

SHU plans to use the property as an innovation campus, to expand its new School of Computing, which is focused on computer engineering, computer gaming and cybersecurity, and to develop programs in STEM fields such as health and life sciences, science and technology. The university will also move certain elements of its Jack Welch College of Business to the new campus, including its new hospitality management program that will make use of facilities both at the GE site and SHU’s recently acquired Great River Golf Club in Milford.

The University also plans to move its College of Education and the University’s business office to the site, eliminating the need to rent space elsewhere.

SHU officials are also hoping the purchase will allow the University to develop partnerships with local healthcare providers, providing clinical opportunities for students in its Colleges of Health Professions and Nursing. These partnerships could also mean more healthcare options for area residents.

Michael Kinney, senior vice president for Finance & Administration at SHU, notes that for $31.5 million – the price of an average-sized academic building – SHU will acquire a corporate headquarters, approximately 66 acres, about 550,000 s/f for current and future use, 800 above/underground parking spaces and enough space to meet needs for the foreseeable future. The purchase of this parcel will bring the total acreage of Sacred Heart’s campus to nearly 200 acres, not including the 150-acre Great River Golf Club purchased last year. 

“This purchase addresses our classroom and parking needs and will provide acreage for all master plan future development. That said, this is still a significant purchase for us. However, it was impossible for us not to take advantage of this opportunity – especially for land so close to our main campus,” said Kinney.