Michael Graves Properties Rejected by Princeton Will go to Kean University
Architect Michael Graves left three of his properties on Patton Avenue in Princeton, including his home and his studio, to Princeton University. But the university turned down the bequest, saying it could not meet the conditions attached to the sale, which included preserving the houses and using them for educational purposes. The properties are valued at $3.2 million.
Kean University agreed to the conditions and plans to buy the properties for $20. Kean has a new architecture and design program named for Graves called Michael Graves College.
For more on this story, read the New York Times piece about the bequest.
another $3.2 mil off of the tax roles – my nightmare is that I’m the last of the 50 taxable properties in Princeton
I’m just guessing, but I think that KU will turn around and sell the properties for a tidy massive profit. After all, KU is located in Union. But I could be mistaken and maybe they will establish some kind of satellite mini-campus in Princeton?
Planet Princeton, is this area even zoned for educational use? Isn’t it residential? How can they use it for academic buildings?
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