Hofstra University announces plan for new $25M building for business school

Hofstra University announced Wednesday night it will break ground soon on a 50,000-square-foot facility to house student, faculty and administrative spaces, an upgrade that marks the 50th anniversary of the Zarb School of Business.

“The Zarb school will have one central, large, integrated space to call home,” said Hofstra University President Stuart Rabinowitz, at a ceremony in Monroe Lecture Hall, after being introduced by Zarb School Dean Herman Berliner.

“This is a building that creates an environment where students and faculty can be together,” said Berliner said.

The building will cost about $25 million and construction will begin in spring or summer of 2017, he said.

Rabinowitz spoke before about 200 students, faculty and alumni to kick off a panel discussion with distinguished alumni while reflecting on the history and future of the business school, which was created in September 1965 and celebrated its first graduating class in May 1966.

The panel included Kathryn V. Marinello, senior adviser Ares Management LLC, Stella M. Mendes, managing director of FTI consulting, Julio Portalatin, president and CEO of Mercer, Debra Sandler, president and CEO of Le Grenade Group LLC and Michael Venuti, president and co-founder of Agua Brands.

Rabinowitz praised the Zarb school’s namesake as one of the nation’s most prominent business leaders.

“Presidents Nixon, Ford, Reagan, Bush and Clinton have all called upon Frank Zarb for his wise counsel,” Rabinowitz said. “He has an incredible record of business leadership and business success and we are grateful that his name graces our wonderful school.”

The new building will abut the C.V. Starr building and replace Weller Hall, which houses faculty and administrative offices. It will feature faculty and administrative offices, a student lounge, classrooms and collaborative work spaces.

Rabinowitz said the C.V. Starr building will be “refreshed” to match the new edifice.

It’s been a great 50 years,” he said.

First-year master of business administration student Gautam Condainte, who came to Hofstra from Bangalore, India, said he was thrilled that the Zarb school was growing in size.

“That’s obviously wonderful to have new building,” said the graduate of Bangalore University, adding that the Zarb school has been an enriching experience for him as he studies business analytics, even securing a graduate assistantship with a faculty member, Mahesh Chandra, who is studying corporate social responsibility. “Zarb has been wonderful.”

Hofstra University has offered business courses and programs since the institution was founded in 1935. In 1994, the business school was named in honor of alumnus and former Nasdaq chairman Zarb, who earned his bachelor’s degree and master’s of business administration at Hofstra.