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. Read More