New Jersey City University honored developer Paul Silverman during its 2022 Leadership Awards gala, recognizing his lasting impact on Jersey City and the greater Hudson County area. — Courtesy: NJCU
By Joshua Burd
Longtime developer Paul Silverman has launched a new scholarship at New Jersey City University, building on his years of support for both the academic institution and the Jersey City community.
The school announced last week that Silverman, a former vice chair and longtime member of the NJCU Foundation board of directors, pledged an initial $50,000 endowed gift to establish the Silverman Family Scholarship and provide financial assistance to deserving students on the campus starting in the upcoming academic year. The foundation will award funds to students who demonstrate financial need, selecting recipients based on an applicant’s circumstances and potential for success.
The gift follows last year’s investiture ceremony for President Andrés Acebo, which Silverman cited as the catalyst for re-engaging with the university after stepping back from active involvement in recent years, according to a news release. Notably, it also serves as the lead and inaugural donation for a planned centennial campaign — details of which will be announced at a later date — to benefit student scholarships on the Jersey City campus following the merger of NJCU with Kean University in summer 2026.
“What inspired me was Andy’s investiture,” Silverman said. “He approached it not as a ceremony, but as a tribute to this community. Being there rekindled something in me: a belief in NJCU, in its purpose and in the people it exists to uplift. Like many, I had stepped back after losing faith in the university’s previous direction. But that moment, shaped by President Acebo’s conviction, passion and deep commitment to our students, called me back with clarity and renewed purpose.”
NJCU was chartered in 1927 as Jersey City State Normal School. Silverman, who leads the eponymous development firm alongside brother Eric Silverman, served on the NJCU Foundation’s board of directors from 2012 to 2022 as part of decades of service in the state’s second-largest city amid projects that have revitalized several neighborhoods.
The university honored Silverman during its 2022 Leadership Awards gala, recognizing his lasting impact on Jersey City and the greater Hudson County area.
“NJCU serves a population where this scholarship is really going to make a difference in the life of a student,” Silverman added. “It’s a significant investment. Rather than donating to a huge university with billions of dollars, you can really make a difference in the lives of students from our community every year. I encourage others who are in a position to give back to consider the impact a gift such as this will have.”
Acebo added: “Paul Silverman and his family’s generous commitment to our students demonstrates their profound understanding that education is the foundation upon which strong communities are built. As someone who has literally shaped the skyline and neighborhoods of Jersey City, Paul recognizes that investing in our students is the most important investment we can make in our community’s future. His gift will support the very students who define our campus community — hardworking individuals, predominantly first-generation working-class scholars, who are determined to succeed notwithstanding significant challenges and obstacles. We are deeply grateful for Paul’s renewed partnership with our campus mission and his unwavering belief in the transformative power of education.”
In announcing the gift, NJCU noted that Paul and Eric Silverman since 1981 have developed more than 1,000 homes and hundreds of thousands of square feet of commercial and industrial space in Jersey City. That has included restoration of historic buildings, renovation of existing buildings and new construction in areas such as Hamilton Park and other parts of downtown.
Paul Silverman is also a noted supporter of the arts and other causes, while he has served as chairman of New Jersey Beer Co., a microbrewery producing craft beer, since 2011. Beyond his business achievements, he has been a consistent advocate for public education and community development, having also supported a host of Hudson County nonprofits.
Additionally, Silverman is as a trustee emeritus at Muhlenberg College in Allentown, Pennsylvania, and sits on the board of the Hudson County Chamber of Commerce, the news release said. He is also co-founder of the Youth Foundation of Jersey City and supports organizations including CitySail, New City Kids, Art House Productions and Team Wilderness, while he recently established the Silverman Family Scholarship Fund at Hudson County Community College with a $25,000 endowment to the HCCC Foundation.
With the upcoming merger of NJCU with Kean University to form Kean Jersey City, the nonprofit NJCU Foundation will continue to operate as a separate entity, the news release said. The foundation will continue its mission of raising critical funds and providing scholarships that enable students to enter to learn and exit to serve, transforming individual lives while strengthening the communities we serve as an economic engine for social mobility and opportunity.
NJCU added that the investment returns for the Silverman Family Scholarship will provide ongoing support for its students in perpetuity.
