FOX POINT, Wis. — The Ramirez Family Foundation, a group focused on educational ministries, says it is buying the Cardinal Stritch University campus for $24 million.
Back in May Cardinal Stritch University closed its doors and put the 3.5-acre campus in Fox Point and Glendale on the market for sale.
The foundation said in a statement on Wednesday that "the campus’s excellent location, spacious facilities and rich educational and spiritual heritage closely align with the vision and mission of the Ramirez Family Foundation."
According to their statement, specific plans for the campus are still being developed. The foundation said they hope the "facilities lend themselves to educational ministries which are the primary focus of the Foundation."
Gus Ramirez and Becky Ramirez, co-chairs of the Ramirez Family Foundation said the move will provide their foundation with "an even larger impact."
Their statement reads, “When the Cardinal Stritch campus first became available, we moved quickly to reach a purchase agreement. While we have a broad vision to expand access to a high-quality, Christian education for underserved students in Milwaukee, our specific plans for the campus will be determined after careful consideration, analysis and input from educational leaders at Aug Prep.”
As TMJ4 News previously reported, Cardinal Stritch University closed permanently effective May 22.
President Dr. Dan Scholz saidfiscal realities, a downward enrollment trend, the pandemic, and the need for more resources for the shutdown, calling it a "no-win situation."
"I am here to report that the Sisters of St. Francis of Assisi has accepted the recommendation of the University Board of Trustees to suspend and cancel all education services, activities, and programs, effective May 22, 2023, and begin the wind-down process of the university operations after the current spring semester," Dr. Scholz shared.
Academic services will be provided this summer to a limited number of students so they can reach their graduation requirements. For current students, Cardinal Stritch is finalizing partnerships with local colleges and universities so they can continue their studies.
New students who are yet to enroll will be helped to transition to another school.
Dr. Scholz says faculty and staff will be offered an employee assistance program and the university will "work closely with them on employment matters."
Carla Sastre is a foreign exchange student from Spain and a member of the women's soccer team. She said hearing the news of the school's closure is devastating for her and nearly 40 other exchange students who have made the United States, and Cardinal Stritch, home.
"Every [exchange student] was talking with their parents and just crying," said Sastre. "Because like what are you gonna do? You’re in a different place, different country, you have made a lot of friends and everything and now everything is destroyed."
She told TMJ4 her future is now up in the air as she takes the next month to figure out what is next for her.
"For me, I already had everything planned. I was gonna stay here for the four years, I knew I was gonna try to get a job here," said Sastre. "Right now I'm just like, okay, now what am I supposed to do?"
Junior Noah Clements said the tight-knit community is what made the school so special
"A lot of the people here just really love each other," Clements told TMJ4 News. He said he wasn't shocked the university was closing, but surprised it was happening this soon: "I was in shock that it happened this year and not necessarily years down the line, 'cause I did know they had some sort of donation that was happening last year."
The university has 208 faculty members and just over 1,300 students enrolled. 45% of those students are Pell Grant recipients.
The university will host its last commencement ceremony on May 21 at 10 a.m. at the Wisconsin Center.
The private Roman Catholic university was founded in 1937 and celebrated its 85th anniversary last July.
Ramirez Family Foundation Acquires Cardinal Stritch Campus
MILWAUKEE, July 26, 2023 -- The Ramirez Family Foundation (the Foundation) announced today that it has acquired the Cardinal Stritch University campus in an agreement valued at $24 million.
The campus’s excellent location, spacious facilities and rich educational and spiritual heritage closely align with the vision and mission of the Ramirez Family Foundation. While specific plans for the campus will be developed over time, the facilities lend themselves to educational ministries which are the primary focus of the Foundation. Recently, the Foundation, along with hundreds of additional donors, supported the soon-to-be completed 900-student facility expansion at St. Augustine Preparatory Academy, commonly known as Aug Prep, increasing the school’s capacity to 2,400 students.
“This is a once-in-a-generation opportunity to acquire a unique property that will, in time, provide the Ramirez Family Foundation with a platform to make an even larger impact,” said Gus Ramirez and Becky Ramirez, co-chairs of the Ramirez Family Foundation. “When the Cardinal Stritch campus first became available, we moved quickly to reach a purchase agreement. While we have a broad vision to expand access to a high-quality, Christian education for underserved students in Milwaukee, our specific plans for the campus will be determined after careful consideration, analysis and input from educational leaders at Aug Prep.”
Earlier this year, Cardinal Stritch announced that it was discontinuing operations and putting its campus up for sale. The transaction was approved by the Cardinal Stritch University Board of Trustees and, ultimately, the Vatican. The campus spans 43.5 acres in Milwaukee’s north suburbs, featuring 12 buildings with a combined 607,000 square feet.
“The Ramirez Family Foundation is built on the premise that a high-quality education is life-changing, which is why we have dedicated our family’s time, efforts and resources to elevating educational opportunities and access for disadvantaged students globally,” Ramirez said. “We are excited about the possibilities that this transaction opens up for us to continue the campus’s spiritual and educational history and help students reach their God-given potential.”
About the Ramirez Family Foundation [ramirezfamilyfoundation.org]Established by Gus and Becky Ramirez, the Ramirez Family Foundation supports schools and students in the United States and around the world, particularly in Central and South America and more recently in Puerto Rico. The Foundation has supported more than 200 schools impacting more than 300,000 impoverished students. The Foundation seeks to invest in opportunities and projects that have great leadership, support underserved students and offer young people an opportunity to earn a superior faith-based education and become impactful leaders as adults.
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