Since 2000 the University has added 7.4 square feet in new buildings and eliminated 2.1 million of square feet in buildings with significant deferred maintenance. To manage this high volume of capital activity, the University maintains a robust budget and planning process. The capital portfolio is a mix of major projects, smaller repair and renovation investments, and large purchases for depreciable items such as equipment and library books.
Major capital projects – which are approved by the Board following extensive discussion with senior leadership – are informed by the University’s strategic plan and built in accordance with principles articulated in its master plan.
- To support its Global Engagement mission, the University has built centers in Beijing and Delhi, and will soon open a permanent center in Hong Kong.
- To house its strategic initiative in Molecular Engineering and Innovation, the University built the William Eckhardt Research Center.
- To foster the University’s mission of being an Intellectual Destination, the University renovated a recently acquired property to house the Neubauer Collegium for Culture and Society and converted another University property into the site for the Stevanovich Institute on the Formation of Knowledge.
Like most campuses whose roots stretch back a century or more, the University has numerous buildings in need of renovation and renewal. A portion of the annual capital budget is dedicated to addressing the deferred maintenance backlog. In addition, many of the major capital projects launched in recent years are helping to alleviate this problem by tearing down failing buildings and replacing them with new construction or doing gut renovations. In addition to attacking deferred maintenance in buildings, the capital budget also includes an annual allocation for utility infrastructure work. To identify which projects should advance each year, the University has an annual process to solicit and review projects requests from units across campus.