Stanford University backed off a plan, almost four years in the making, to buy the Notre Dame de Namur University campus in nearby Belmont, Calif., the San Francisco Chronicle reported.
“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,” Stanford officials wrote in a Tuesday statement announcing the decision.
Officials added that as the university was “exploring possible academic uses for a Stanford Belmont campus,” it became clear “that identifying and establishing those uses for a potential Belmont campus will take significantly longer than we initially planned.”
Administrators also seemed to hint at potential financial concerns, as President Donald Trump has sought—unsuccessfully, so far—to cap reimbursements for indirect research costs funded by the National Institutes of Health, which experts have warned will harm research universities.
“The landscape for research universities has changed considerably since Stanford entered into the option purchase agreement with NDNU,” Stanford officials wrote. “These changes are resulting in greater uncertainties and a different set of institutional and financial challenges for Stanford.”
In their own statement, NDNU officials noted the university would continue to seek a buyer and expressed disappointment that the sale had fallen through.
Notre Dame de Namur has sought to sell the Belmont campus near Palo Alto since it shrank its offerings and moved a number of its programs online in 2021 amid financial challenges that pushed it to the brink of closure. Now the private Roman Catholic institution is focused on graduate education and offers a mix of in-person, hybrid and online programs.
Officials had expected the sale of the Belmont campus to provide a financial boon.
“Our focus remains on finding a buyer who will preserve and honor the historical significance of this beautiful campus and continue to serve the community-oriented mission that has long been a cornerstone of Notre Dame de Namur University,” NDNU president Beth Martin wrote.