New Jersey City University (NJCU) announced April 2 that real estate developer and philanthropist Paul Silverman has established the Silverman Family Scholarship, with an initial $50,000 endowed gift that will provide financial assistance to deserving students on its Jersey City campus for generations to come.
The need-based scholarship will be awarded by the NJCU Foundation to students who demonstrate financial need, with recipients chosen by the foundation based on an applicant’s circumstances and potential for success.
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.
Silverman, who served on the NJCU Foundation Board of Directors from 2012 to 2022, cited President Andrés Acebo‘s investiture ceremony in September 2025 as the catalyst for re-engaging with the university after stepping back from active involvement in recent years.
“He approached it not as a ceremony, but as a tribute to this community,” Silverman said. “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.”
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. “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.”
President Acebo celebrated the gift, saying “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.”
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 more than 1,000 residences and hundreds of thousands of square feet of commercial and industrial space.
Beyond his business achievements, Silverman has been a consistent advocate for public education and community development. 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.
Silverman also maintains a long-standing relationship with Hudson County Community College, where he recently established the Silverman Family Scholarship Fund with a $25,000 endowment to the HCCC Foundation.
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.