Paul Silverman, a prominent real estate developer, philanthropist and former longtime
member of the New Jersey City University Foundation Board of Directors, was
questioning his connection to the school last fall.
Then he went to the investiture of new president Andres Acebo.
Seeing Acebo in action sparked a sense of purpose inside him. That feeling came to
fruition last week, when Silverman announced the Silverman Family Scholarship, an
effort to provide financial assistance to deserving students on its Jersey City campus for
generations to come.
The need-based scholarships, which will begin with an initial $50,000 donation from
Silverman, will be awarded by the NJCU Foundation to students who demonstrate
financial need, with recipients selected by the foundation based on an applicant’s
circumstances and potential for success.
Silverman, who served on the foundation board from 2012 to 2022, including a term as
vice chair, cited Acebo’s moment as the catalyst for re-engaging with the university after
stepping back from active involvement in recent years.
“What inspired me was Andy’s investiture,” he 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.”
Furthermore, Silverman’s gift serves as the lead and inaugural donation for a planned
centennial campaign — details of which will be announced at a later date — that will benefit student scholarships on the Jersey City campus following the merger of NJCU
with Kean University in Summer 2026.
NJCU was chartered in 1927 as Jersey City State Normal School, and 2027 will mark
the 100th year of the campus in the state’s second largest city.
Silverman emphasized that NJCU’s mission and student population make philanthropic support particularly impactful.
“NJCU serves a population where this scholarship is really going to make a difference in
the life of a student,” he said. “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.”
Silverman was honored during the 2022 NJCU Leadership Awards gala in recognition of
his lasting impact on Jersey City and the greater Hudson County area.
Acebo celebrated the gift.
“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,” he said. “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.”
The establishment of the Silverman Family Scholarship continues Paul Silverman’s long history of supporting education and community development in Hudson County. As co-
founder with his brother Eric of the prominent real estate development firm
SILVERMAN, he has played a pivotal role in revitalizing Jersey City’s downtown and
waterfront districts since 1981. Under their leadership, SILVERMAN has developed over
1,000 new residences and hundreds of thousands of square feet of commercial and
industrial space.
Widely regarded for his work as a developer of residential, commercial, retail and
industrial real estate in New Jersey, including restoration of historic buildings, renovation of existing buildings, and new construction, he is also a noted supporter of
the arts and other causes. He has also served as Chairman of New Jersey Beer Co., a
microbrewery producing craft beer since 2011.
Beyond his business achievements, Silverman has been a consistent advocate for
public education and community development. In addition to his 10 years of service on
the NJCU Foundation board, he has supported numerous Hudson County nonprofits.
He serves as a Trustee Emeritus at Muhlenberg College in Allentown, Pa., and sits on
the board of the Hudson County Chamber of Commerce. 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.
A steadfast supporter of the community, Silverman also maintains a long-standing
relationship with Hudson County Community College (HCCC), where he recently
established the Silverman Family Scholarship Fund with a $25,000 endowment to the
HCCC Foundation.
With the merger of NJCU with Kean University in Summer 2026 to form Kean Jersey
City on the horizon, the NJCU Foundation — an independent 501(c)(3) public charity
organization — will continue to operate as a separate entity. The Foundation will
continue its mission of raising critical funds and providing scholarships that enable our
campus’s 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.
The Silverman Family Scholarship will be awarded beginning in the upcoming academic
year, with the endowment’s investment returns providing ongoing support for NJCU
students in perpetuity.
