Stanford University has abandoned its longstanding plan to purchase the Notre Dame de Namur University campus in Belmont, California. This decision, announced after an extensive evaluation of various factors, stems from the realization that establishing academic uses for the campus will be more time-consuming than initially expected. Financial uncertainties have also played a role, particularly in light of potential policy changes impacting research funding. NDNU, meanwhile, continues its efforts to find a buyer, expressing disappointment over the stalled sale amid its own ongoing financial struggles since shifting operations online in 2021.
Stanford officials wrote in a Tuesday statement announcing the decision: "The landscape for research universities has changed considerably since Stanford entered into the option purchase agreement with NDNU."
Officials noted that "identifying and establishing those uses for a potential Belmont campus will take significantly longer than we initially planned."
NDNU officials expressed disappointment, stating: "Our focus remains on finding a buyer who will provide a financial boon."
Experts have warned that proposed caps on reimbursements for indirect research costs funded by the NIH could harm research universities.
#stanford-university #notre-dame-de-namur-university #higher-education #campus-acquisition #financial-challenges
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