Although Saint Peter’s University (SPU) might be one of North Jersey’s smallest colleges, the school on Jersey City’s West Side just announced that it has received a donation that is anything but small.
Developer Joseph Panepinto, who graduated from SPU over 52 years ago, has given $10 million to the Catholic university. The gift, which is the largest single donation that SPU says it has ever received, will “dramatically advance the development of the West Campus and make quality Jesuit education more accessible to its growing student body,” according to the university. It was announced at the President’s Reception last Thursday.
In addition to being a member of the SPU Board of Trustees, Panepinto is the President and CEO of Exchange Place-based Panepinto Properties. The Jersey City native’s independent development firm is behind projects such as 3 Journal Square, 50-90 Columbus, and The Gotham.
The highly publicized statement did not mention which development projects would benefit from the gift. Few projects have been announced as of late by the private institution. As we reported nearly a year ago, construction has yet to begin on the university’s proposed 21-story tower at the corner of Montgomery Street and Tuers Avenue in McGinley Square.
SPU was known as Saint Peter’s College until 2012. In addition to its 30-acre location along John F. Kennedy Boulevard, the school has a satellite campus in Lyndhurst. The SPU campus in Englewood Cliffs closed in August.