“Nearly 16 months ago, Syracuse University entered into an agreement with a development company to construct and operate a commercial building on SU-owned land within the 600 block of University Avenue. The building was to house the University bookstore and fitness center and, as a result, make existing space on campus available for other important priorities.
“Since that time, the project has experienced repeated and material delays and failed to meet requirements of the development agreement, including failing to secure construction financing, failing to submit a construction schedule, or otherwise taking action demonstrating a likelihood the project would be completed by the contractual June 18, 2015, deadline.
“Nevertheless, the University, in a spirit of good faith, has repeatedly tried to work with the developer to overcome these material failures. However, the developer has been unable to adequately address the University’s concerns or demonstrate a credible ability to successfully complete the project as it had contractually agreed to do. As a result, earlier this afternoon the University formally notified the developer that it was terminating the project and reclaiming the work site.
“When envisioned, this project would have provided significant new space for several important University needs and made current space on campus available to meet other priorities. However, the University can wait no more and must move ahead.
“We very much appreciate the support this project received from City of Syracuse elected representatives, officials and community leaders when it was proposed in 2012. We look forward to working together with them in the future as we continue assessing and planning the University’s space needs.”
Dear Students, Families, Faculty and Staff: In recent days, there has been a renewed and palpable sense of energy on our campus. Many of us are feeling optimistic for the future, especially as more and more members of our community…
Good afternoon, As of June 1, Syracuse University will require a COVID-19 vaccination for all faculty and staff who access campus over the summer months. All new and returning faculty and staff will be required to be vaccinated prior to…
In 2013, Variety magazine honored Syracuse University alumnus and trustee Marshall M. Gelfand ’50 with its Business Managers Elite Award and an article titled “Veteran Business Manager Balances Work and Philanthropy.” Gelfand, who died April 1 at the age of…
Dear Students and Families: With just over 40 days until the last day of the semester, it’s really starting to feel like spring on the Syracuse campus. Warmer and dryer weather brings more opportunity to get outside, enjoy the fresh…
Cameron Gray, a junior film major in the Department of Transmedia in the College of Visual and Performing Arts, has been named the recipient of a 2021 Beinecke Scholarship. She is the second Beinecke Scholar in Syracuse University’s history. The…
If you need help with your subscription, contact sunews@syr.edu.
