Mercer Co. Spends $10M To Buy Rider U. Property & Keep It Afloat

MERCER COUNTY, NJ — The Mercer County Board of Commissioners voted Feb. 24 to approve nearly $10 million in real estate and facility agreements with Rider University, explicitly citing the need to prevent the Lawrence Township institution's insolvency and stabilize the regional economy.

The four resolutions — numbered 2026-151 through 2026-154 — authorize the county to purchase two tranches of Rider-owned property, lease campus facilities for county and emergency use, and immediately lease one acquired property back to the university so its president can continue living there for $10 a year.

“Rider University is an invaluable asset to our community,” said County Executive Dan Benson. “I’m proud that we were able to sit down and work collaboratively with University leadership to reach an agreement that strengthens our partnership, and that’s a win-win for the school and for Mercer County residents.”

The Presidential Residence

Resolution 2026-151 authorizes the county to purchase Rider's presidential residence at 2064 Lawrence Road, Lawrence Township — Block 3004, Lot 61 — for $1,065,000 in county funds. The resolution states Rider approached the county to initiate the deal, framing it as providing "essential financial liquidity to a critical regional anchor institution" to help prevent its insolvency.

Under Resolution 2026-153, the county immediately leases the residence back to Rider from Feb. 24, 2026, through Feb. 24, 2033, at an annual rent of $10 — allowing the university president to continue living there while the county holds the deed.

The Campus Land

The largest transaction, Resolution 2026-154, approves the purchase of Rider's main campus parcels — Block 2701, Lots 2, 6, 32.02, and 85 through 90 in Lawrence Township — for a total not to exceed $7,511,871.04, funded through the Mercer County Open Space Preservation Trust Fund. The county is eligible for a 50 percent Green Acres matching grant from the New Jersey DEP, potentially cutting the net cost to roughly $3.75 million. The deal also includes an option to acquire an easement for a future Johnson Trolley Trail connection, subject to bondholder approval.

Facility Use Agreement

Resolution 2026-152 authorizes a seven-year facility use agreement under which the county pays Rider a one-time lump sum of $1,423,128.96 for access to campus facilities through Feb. 24, 2033. Uses include county operations and training, emergency management — formally designating Rider as a shelter and staging area for the Mercer County Office of Emergency Management — and access to Rider's gymnasium and pool for county employees. The resolution includes a pro-rated refund clause if the university closes or loses accreditation before the agreement expires.

The four deals total approximately $10 million in county commitments. If the Green Acres grant is awarded, the county's net outlay could drop to roughly $6.3 million. All funds were certified as available by the county's chief financial officer.

“This agreement represents another critical step in reimagining a meaningful Rider as we continue to swiftly rebuild our financial strength,” said Rider’s President Loyack. “The agreement demonstrates the ultimate in creativity and speed that can be achieved through meaningful public-private partnerships. We are deeply grateful to the Mercer County Executive and the County Commissioners for being so willing to work with us to make this happen. Their collaboration and shared commitment to higher education, environmental stewardship and Rider University reflect what can be accomplished when institutions work together for the greater good.”

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