Concordia College in Bronxville to Close in the Fall; Deal Being Finalized for Iona College to Buy Campus

Concordia College in Bronxville to Close in the Fall; Deal Being Finalized for Iona College to Buy Campus
Concordia College was founded 140 years ago and has operated at its Bronxville campus since the early 1900s.

BRONXVILLE—Concordia College, which was founded 140 years ago, announced today that it will close beginning with the fall semester of 2021 and plans to sell the 28-acre campus to Iona College of New Rochelle.

The Concordia Board of Trustees has agreed to proceed on a formal agreement with Iona College to provide continued education for Concordia’s students through a teach-out, and to sell Concordia’s Bronxville campus to Iona College.The teach-out plan is expected to allow most Concordia students to finish out their degrees at Iona, according to a Concordia spokesperson. There are currently 780 students enrolled at Concordia. No sale price for the 28-acre campus was disclosed.

Concordia originally operated in what is now Hawthorne, but in 1908 moved to its current campus in Bronxville.

Concordia officials stated that the extremely difficult decision was the result of a “deliberative, thoughtful and strategic process, informed by immutable business realities. Set within the context of a changing and broadly challenged higher education sector, the college’s financial shortfalls were further accelerated by the global pandemic.”

Many details of the agreement are being finalized and are subject to regulatory approval. At present, Concordia does not expect any disruption to the current Spring 2021 semester. The agreement is expected to be completed by the summer of 2021.

Iona plans to utilize the Concordia campus to develop a leading school of health sciences, furthering Iona’s strategic investments in the field, and continuing Concordia’s legacy of excellence in health sciences education, according to a statement released by the two colleges.

Concordia’s President Rev. John A. Nunes, Ph.D., said, “Concordia’s challenges are reflected broadly in the higher education sector; accelerated by the pandemic, these challenges necessitated an outcome that brings deep pain to all those invested in Concordia and its 140-year history. I am grateful to the Board of Regents and my administration for working so hard to save our institution. Students continue to be our priority. By acting now, Concordia’s Regents have provided our students with an excellent pathway for continuing the high-quality, faith-informed education they began at Concordia.”

Iona’s President Seamus Carey, Ph.D., added, “The closure of a sister institution affects us all. As I’ve said since I arrived at Iona, higher education must, and will, be different going forward. This is especially true for private, faith-based institutions, and the COVID-19 pandemic has only exacerbated the circumstances demanding change. While we pursue regulatory approvals, Iona and Concordia will work together to ensure their students can complete their education with minimal disruption.”

A series of co-hosted, virtual Town Halls will be taking place to discuss the plans and help answer student questions. Details on those Town Halls are to be released shortly.

Great! You’ve successfully signed up.

Welcome back! You've successfully signed in.

You've successfully subscribed to Real Estate In-Depth.

Success! Check your email for magic link to sign-in.

Success! Your billing info has been updated.

Your billing was not updated.