ASHBURN, VA. — The George Washington University (GW) has offered the Viginia Science and Technology Campus (VSTC) in Ashburn, about 30 miles northwest of Washington, D.C. Amazon Data Services, a subsidiary of Amazon Web Services, bought the property for $427 million, in accordance to native media reviews.
Amazon plans to develop the 122-acre web site into a knowledge middle, in accordance to The GW Hatchet, the college’s pupil newspaper. Ashburn is located in Loudoun County, which is dubbed regionally as “data center alley.”
The transaction settlement ensures that the college has the choice to hold applications at VSTC for up to 5 years.
Launched in 1991, VSTC helps analysis in engineering, physics and chemistry and is house to each educational applications and administrative providers. GW’s School of Nursing, the Earthquake Engineering and Structures Laboratory and the Avenir Foundation Conservation and Collections Resource Center are all housed on the campus.
“As stewards of the university’s mission, we must continually assess how best to use our resources in service of our community and future generations of GW revolutionaries,” wrote Ellen Granberg, president of GW, in a letter concerning the sale. “This includes our real estate portfolio, a critical asset that supports our academic mission, the students, faculty and staff who advance it, and the university’s long-term financial strength. With this in mind, the university had to take seriously the opportunity to realize the extraordinary benefits a sale at this time would yield.”
Prior to the sale’s closing, the GW Board of Trustees handed a decision directing that a good portion of the proceeds be used to set up a brand new endowment. The proceeds from the endowment will probably be used to make strategic investments in analysis and instructing missions and to enhance sources accessible for pupil monetary assist.
The board decision additionally included a proposal submitted by the administration to use a number of the funds to present a one-time bonus cost to eligible GW college and workers.
Chartered in 1821, GW’s principal campus is situated in Washington, D.C.
— Kristin Harlow