MILL VALLEY, Calif. (BP) -- Golden Gate Baptist Theological Seminary has signed a purchase agreement for a new primary campus site in Southern California east of Los Angeles near the Ontario International Airport.
MILL VALLEY, Calif. (BP) -- Golden Gate Baptist Theological Seminary has signed a purchase agreement for a new primary campus site in Southern California east of Los Angeles near the Ontario International Airport. [QUOTE@left@180=The proposed name -- Gateway Seminary of the Southern Baptist Convention -- "connects to our heritage, frees us from geographic designations, allows for developing a more global identity, and acknowledges our Baptist distinctive."
-- Jeff Iorg]In announcing the formal purchase and sale agreement (PSA) to the seminary community, Jeff Iorg, Golden Gate president, said, "We have chosen a facility to meet the needs of students in the 21st century. We will soon have a high-quality educational delivery center with excellent facilities for fulfilling our mission of shaping leaders in the future." Iorg also announced that the seminary will ask that a new name -- Gateway Seminary of the Southern Baptist Convention -- be approved by the convention. The new site includes a six-story building, an adjacent ready-to-build lot and more than 700 parking places in the city of Ontario, part of Southern California's Inland Empire region. The building was constructed in 2009 and has remained vacant due to the economic downturn. The building's exterior is finished and all mechanical systems have been installed, but its interior is unfinished. The adjacent lot is already legally entitled for a future building. The six-story building encompasses approximately 153,000 square feet, while a future building, at 75,000 square feet, can be constructed for such uses as a chapel, library, offices or classrooms. By comparison, the seminary's core campus buildings in Mill Valley, Calif., are only 121,000 square feet. Thus, the new Southern California building is about 20 percent larger than the seminary's current facilities, with room on the new site to nearly double the size of the current facilities. "Our new campus will be very different than our former campus. It is a much more efficient use of space and resources," Iorg said. "A seminary for the 21st century needs space for students, faculty, library, worship and administration. We will soon have state-of-the-art facilities for all these purposes, plus the most advanced educational technology available." In contrasting the seminary's new model with other campus models, Iorg raised the question, "What about other buildings like gyms, swimming pools, exercise rooms and childcare centers? While there is nothing wrong with having them, they are not necessary for accomplishing our mission. When millions of people have not yet heard the name of Jesus, our school must model frugality and simplicity to prioritize resources for global missions. Our tuition must be kept low so students can graduate without seminary-created debt. Our future resources must be focused on people and programs -- not facilities.
2nd VIEW: Seminary finalizes campus sale; ready to secure new Calif. site; increases endowment by $50M
MILL VALLEY, Calif. (BP) -- Golden Gate Baptist Theological Seminary has finalized the sale of its property near Mill Valley, Calif., setting aside funds both to purchase a new campus in Southern California and add $50 million to its endowment.
MILL VALLEY, Calif. (BP) -- Golden Gate Baptist Theological Seminary has reached a sale agreement for all its campus property in Mill Valley, Calif., and has initiated relocation of its primary campus to Southern California.
MILL VALLEY, Calif. (BP) -- Golden Gate Baptist Theological Seminary has reached a sale agreement for all its campus property in Mill Valley, Calif., and has initiated relocation of its primary campus to Southern California. In a special gathering of faculty, students and staff, President Jeff Iorg announced the agreement with North Coast Land Holdings. The seminary's board of trustees approved the sale agreement unanimously. "The final sale agreement will result in resources for a new primary campus in Southern California, a new commuter campus in the Bay Area to continue to service this area, as well as a substantial addition to the seminary's endowment," Iorg reported. "This is an unprecedented opportunity to build a new kind of seminary campus for education in the 21st century," Iorg said. "We are seizing the moment to focus on fulfilling our mission in bold, innovative new ways." Steve Sheldon, chairman of the board of trustees, added, "The board has been fully engaged in land development decisions for years and is unified in the direction we have chosen for the future." Full details about the sale agreement will be announced after the sale is finalized. Golden Gate has faced many land development challenges over the years. "For the past four years, we have been involved in a lengthy and difficult process trying to further develop the Mill Valley Campus property," Iorg said. "We have engaged top planning firms, real estate specialists, financial analysts, legal counsel and political consultants to help us with this process. Despite these skilled professionals -- and much prayer -- we have been stymied. Gradually, we have realized these difficulties are not obstacles to overcome, but rather signposts pointing us in a different direction." The terms of the sale agreement will enable the seminary to remain fully operational during the transition. The seminary will lease back the Mill Valley Campus property and continue present operations for at least two more academic years. After that, the seminary will operate a new commuter-style campus in the Bay Area, much like its current Southern California Campus. "Current Bay Area students will be able to complete their programs at the present campus over the next two years or at the new Bay Area campus. We are not abandoning the Bay Area and will continue to provide a quality program for this region," Iorg said. The decision to build a new primary campus in Southern California reflects church and population demographic projections for that region. The new seminary campus will be in the center of the largest area of projected population growth in the American West -- also meaning the center of church planting and ministry development in the region. "Building a new campus does not mean replicating what we already have -- only in a different location. It's an opportunity to build a new kind of seminary campus reflecting the way educational delivery methods are changing in the 21st century. We see it as a once-in-a-generation opportunity to advance our seminary into the future," Iorg declared.