Fairfield University Eyes High-Tech Hub on GE Campus

FAIRFIELD, CT — Fairfield University has entered into an exclusive agreement with Kleban Properties, a Fairfield-based real-estate investment and development company that is currently exploring with GE the potential purchase and development of the 68-acre campus.

The agreement, which was announced on Monday afternoon, allows the university to work with Kleban on the transformation and development of a high-tech hub with a variety of educational components, including an executive education center.

"Kleban Properties is pleased to be working with a leading institution like Fairfield," Ken Kleban, President of Kleban Properties, said in a statement. "We have a strong history of working with Fairfield including the development of the downtown business accelerator, FUEL, and have been involved in the Dolan Business School's entrepreneurial programs for many years. They are a top-notch institution that will support the creation of jobs and the pursuit of technology and education."

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Fairfield University recently re-launched its off-campus business accelerator and entrepreneurial lab, now called F.U.E.L. (Fairfield University Entrepreneurial Lab) that has seen success with start-up businesses like student-created SoccerGrlProbs, and local small businesses. The creation of FUEL was a three-way partnership, launched in 2012, between the Town of Fairfield, Kleban Properties and the University.

"We are delighted to partner with Kleban Properties in exploring the potential of this great property,” Fairfield University President Jeffrey P. von Arx said in a statement. “The strength of Fairfield's nationally ranked academic programs and ability to provide expertise in both STEM and entrepreneurial related fields will compliment Kleban Properties proposed plans. We couldn't be more excited about the potential development of this property for Fairfield University, the Town of Fairfield and the surrounding communities.”

While Kleban is looking to purchase the 68-acre campus, GE is in the early in the early stages of selling the property and an agreement apparently isn’t close, according to the Connecticut Post.

Last week, GE announced that it has selected the home of its new headquarters in Boston and expects to move in by 2018.

The Post reports that if Kleban were to acquire the GE property, it would likely lease space to Fairfield University, which would keep it under private ownership and on the tax rolls.

The Fairfield League of Women Voters will host a free Public Informational Meeting on GE on Saturday, April 2 in which a panel consisting of First Selectman Mike Tetreau, Kleban and Fairfield Community and Economic Development Director Mark Barnhart will discuss the current status of GE, as well as possible future prospects.