The
Keefe Company played a critical role in the transformation of
the former GTE property into the Salem
State College Central Campus.
The Keefe Company prepared the acquisition
and development strategy for the 38 acre site, which includes
400,000 square feet of buildings. We managed all aspects of this
development, including the following:
- winning approval of the plan from neighborhood
groups and city and state officials
- negotiating the terms of a purchase and
sale agreement with GTE
- overseeing the appraisal process
- proposing the creation by the legislature
of a public/private agency, the Salem
State College Assistance Corporation, to develop the Enterprise
Center
- helping to secure a $4.5 million state appropriation
to acquire the facility, a $3 million start-up fund to leverage
private commitments to the site, and a $450,000 annual operating
budget for the Enterprise Center
- negotiating a cooperation agreement with
the government land bank
The
Enterprise Center
at the Salem State College Central Campus opened in 1999. The
center serves as an incubator for new businesses. Twenty small
businesses are currently housed in the center.
Construction
began in 2002 on a $15 million project to renovate Building One
of the Central Campus for use by the School of Business, the Music
Department, Information Technology, and administrative and service
offices.
Fund-raising is underway for the next phase
of the Central Campus: construction of the Center for the Creative
and Performing Arts and the School of Arts and Sciences environmental
laboratories.
The Central Campus also includes the Salem
State College bookstore, administrative facilities, and parking.
Dr. Nancy D. Harrington, president of Salem
State College, says that "Frank Keefe provided us with
a creative balance of vision and practical advice which helped
us make our vision a reality."

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