June 7, 2017
The sale of the former Rosewood Center property in Owings Mills to Stevenson University was approved by Maryland’s Board of Public Works during its June 7 meeting in Annapolis. Stevenson, per the sales agreement, will use State grants totaling $16 million to complete the environmental abatement and remediation of the Rosewood site before the State transfers final deed to the property.
“The acquisition of the Rosewood property marks another historic milestone in the growth of Stevenson University,” said James B. Stradtner, Chair of the University’s Board of Trustees. “State leaders and our local community have been great supporters through this process, and without them we could have not come so far so quickly. We are committed to making Stevenson and its future development of the Rosewood property assets that enhance our surrounding community and the State of Maryland.”
“I would like to thank the Board of Public Works and the State of Maryland for their support and patience through this lengthy but incredibly important process,” said Tim Campbell, Executive Vice President for Financial Affairs and Chief Financial Officer for Stevenson. “Throughout the years, the State has been an integral part of the success of Stevenson University, supporting many of our expansion and construction projects, and now the acquisition and improvement of the Rosewood property.”
The 117-acre Rosewood site sits adjacent to Stevenson’s existing Owings Mills and Owings Mills North campuses and will nearly double the total acreage of the University. While no final plans for the site have been determined, the agreement calls for Stevenson to use the site for educational purposes. The University’s tentative plans, after completion of environmental clean-up and remediation, include developing new educational facilities and recreational resources for its students and the community.
“I have no doubt that the State, Stevenson, and the community that surrounds our Owings Mills campus all benefit from turning this dilapidated parcel of land into a vibrant, beautiful site for education and athletics,” Campbell added.