Sacred Heart University said Monday it has agreed to purchase General Electric’s 66-acre former global headquarters in Fairfield for $31.5 million.
University President John J. Petillo says the acquisition will support the university’s continued strategic expansion.
“This is a transformational moment in the history of Sacred Heart University,” Petillo said in a statement. “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.”
SHU named its business school after former GE CEO Jack Welch in 2016.
SHU said it will use the campus to expand its graduate offerings and its new School of Computing and to develop more STEM programs.
The university will also move parts of the Jack Welch College of Business to the new campus, including its new hospitality management program.
In addition, SHU will move its College of Education, art & design program and its business office to the site, eliminating the need to rent space in Trumbull.
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.