Over the past decade, the University has added 2,162,327 square feet, built 15 new buildings, fully renovated 12 others buildings, partially renovated many others, and completed several utilities and infrastructure projects. Eight more buildings will open in the next four years. To manage this high volume of capital activity, the University has instituted 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, has completed an interim center in Hong Kong, and will soon commence construction on a new center in Hong Kong.
- To launch its strategic initiative in Molecular Engineering and Innovation, the University is constructing the William Eckhardt Research Center.
- To foster the University’s mission of being an Intellectual Destination, the University is renovating a recently acquired property to house the Neubauer Collegium for Culture and Society.
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 eliminating the deferred maintenance backlog. In addition, many of the major capital projects launched in recent years are addressing this problem by tearing down failing buildings and replacing them with new construction or through 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 developed an annual calendar to solicit and review projects requests from units across campus.