“After careful consideration, Stanford University has decided not to exercise its option to purchase Notre Dame de Namur University’s (NDNU) campus property in Belmont. The university arrived at this decision after evaluating many factors, some of which could not be anticipated when Stanford first entered into an option purchase agreement with NDNU almost four years ago,” according to an emailed statement.
The university also said the landscape for research universities has changed considerably since Stanford entered into the option purchase agreement with NDNU.
“These changes are resulting in greater uncertainties and a different set of institutional and financial challenges for Stanford,” according to the statement.
In 2021, Stanford announced its plans to enter into an option-to-purchase agreement with Belmont’s Notre Dame de Namur University, and it had been partnering with the city on developing a special zoning district to allow for a range of uses, such as academic buildings and housing facilities.
Stanford was proposing about 50 to 200 housing units on the 46-acre site — for students as well as university employees — while maintaining the three historic structures on the property, including Ralston Hall Mansion. It planned to build on 700,000 square feet of the property and would be a 30-year agreement. The site currently has 24 buildings, with more than 320,000 square feet of office and classrooms.
The Catholic, nonprofit university based in Belmont decided to sell because it was confident that a sale to a compatible organization would lead to long-term sustainability.
NDNU operations have continued and the expectation was that it would be able to lease back space on campus for its operations, with both universities remaining independent.
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The plan was for a host of community benefit contributions — largely, but not exclusively, financial — such as the restoration of Ralston Hall Mansion for public use, a million-dollar contribution toward TK-12 education programs, a shared-use agreement for the nearby Koret Field, as well as the commensurate development impact fees for each new facility.
Stanford in its statement said it would remain committed to supporting the Belmont community, and we will make contributions toward improving public K-12 education, renewing the Barrett Community Center and local transportation infrastructure. It also said it is working with NDNU and the city to support NDNU’s next steps with their campus property.
“We appreciate Stanford’s engagement throughout this process and their thoughtful approach to exploring a shared vision for the site,” Mayor Julia Mates said. “While we welcomed the opportunity to see this project move forward, we remain committed to working with NDNU, as the property owners, and Stanford to ensure a smooth transition and to explore future opportunities that align with the city’s long-term planning goals.”
Mates also emphasized NDNU’s importance to Belmont, and said the city will continue to support it however it can.
Beth Martin, president of NDNU, said she was disappointed the plans did not proceed but that officials were prepared for the possibility as the end of the purchase agreement timeline was nearing in June. The school, which previously contracted to online and graduate offerings, has been growing since 2021. Its enrollment has approximately doubled to 308, and could meet 400 for the fall.
Martin said the campus is too large for NDNU as it is now and they will continue to look for a location that is more appropriate in size and technological capability since many of its classes are online. The campus will immediately seek a new buyer who will honor its legacy and historical significance. Classes will continue on the Belmont campus next school year. She added they worked very well with Stanford.
“We will forge forward,” she said. “There are a lot of possibilities moving forward.”
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(1) comment
I wonder if this has anything to do with Trump's cuts to NIH and Education.
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Keep the discussion civilized. Absolutely NO personal attacks or insults directed toward writers, nor others who make comments.
Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't threaten. Threats of harming another person will not be tolerated.
Be truthful. Don't knowingly lie about anyone or anything.
Be proactive. Use the 'Report' link on each comment to let us know of abusive posts.
PLEASE TURN OFF YOUR CAPS LOCK.
Anyone violating these rules will be issued a warning. After the warning, comment privileges can be revoked.