 In 1930 the building was owned by the Rutherford National Bank, then headed by Fairleigh S. Dickinson.In 1942 Fairleigh Dickinson University was created and held the first classes within Iviswold.As the university grew it built multiple college buildings around Iviswold, but by the late 1980s the college was outgrowing their Rutherford campus, which was closed in 1994 and sold along with Iviswold to Felician University in 1997.