Rabbi Mendlowitz passed away in 1948 - had he lived, he would have seen the university to fruition. The 2 year college application was eventually withdrawn, I'm assuming he saw no purpose for a community college in terms of long term benefits to the graduates, and perhaps finances were an issue. The 4 year program application was not withdrawn.
SEE ENTIRE PDF FILES:
http://failedmessiah.typepad.com/failed_messiahcom/2014/02/in-1946-americas-top-non-hasidic-haredi-rabbis-wanted-to-combine-their-yeshivas-to-form-a-jewish-university-567.html