The Borough of Madison presented a final offer of $65.1 million in July of 2024 to acquire the Drew forest. Madison asks that Drew, which has not yet accepted the proposition, make a decision soon, as they will be withdrawing their offer.
In a news release from Sept. 9, Madison announced that “While the offer remains on the table, upcoming deadlines for court filings and the potential expiration of grant funds secured for the purchase of the Forest will mean that the offer will be withdrawn as Madison will not fund lost grants with local tax dollars or debt.”
According to the news release, Madison’s proposal “includes acquiring and preserving approximately 51 acres of forested land, including the Zuck Arboretum, Hepburn Woods, and properties along Glenwild and Green Village Roads. Additionally, the offer allows for residential development on other parts of the Drew campus, consisting of both affordable and market-rate apartments.”
The offer follows years of negotiations between Drew and Madison since Drew announced plans for land sales in 2022. A 2022 article from the Drew Acorn states “The money from the sale would be allocated into the endowment and would allow the University to double the amount of money they normally offer annually in scholarship funds for incoming students.”
The current offer has increased from previous offers and meets the evaluation of the land that placed its worth between $60-$70 million. The Friends of the Drew Forest, a nonprofit organization dedicated to protecting Drew’s forest, advocates for a conservation land sale. The Friends of the Drew Forest state that “If Drew works with Madison Borough to sell this special land for full market value to a conservation buyer, Drew could benefit financially while securing the forest for student and public use.”
Katie Carmichael is a senior majoring in English with a creative writing concentration and minoring in teaching.
