Kleban Joins Forces With Fairfield University To Redevelop GE Headquarters

FAIRFIELD, Conn. -- Fairfield University and Kleban Poperties want to turn General Electric's Fairfield headquarters into a "high-tech hub" after GE departs for Boston this summer.

Ken Kleban of Kleban Properties said that the real estate development company wants to work with Fairfield University to develop the GE property.
Photo Credit: *Contributed*

Casey Donahue

03/28/2016 9:45 p.m.

The university announced Monday that it has entered into an exclusive agreement with Kleban Properties, a real estate investment and development company located in Fairfield. Kleban had previously announced that it would seek to buy the GE campus, and is exploring with GE the potential purchase and development of the 68-acre property.

If the purchase of the property goes through, the company and Fairfield University would want to use it for a variety of educational components, including an executive education center.

GE announced in January that it would be moving its headquarters from Fairfield to Boston beginning this summer, with the full move completed in phases by 2018. The company announced that it plans to move 200 of its Fairfield-based employees along with it to Massachusetts.

"Kleban Properties is pleased to be working with a leading institution like Fairfield," said Ken Kleban, president of Kleban Properties. "We have a strong history of working with Fairfield including the development of the downtown business accelerator, F.U.E.L., 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."

In 2012, Fairfield University, Kleban Properties and the town of Fairfield announced a three-way partnership to launch F.U.E.L. (Fairfield University Entrepreneurial Lab), an off-campus business accelerator and entrepreneurial lab designed to help local and start-up businesses find success.

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

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