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October 26, 2009, 01:46 PM ET
U. of Delaware Makes Deal to Purchase Chrysler Plant on 272 Acres
Consider it a sign of the times: The decline of the gas guzzler, the fall of the auto industry ... and the growth of the university?
The University of Delaware has signed a deal to purchase 272 acres in Newark, just south of the main campus, from Chrysler for $24-million. On the site is a factory where Chrysler made SUV's until December, when it was closed. The deal, which was submitted to a federal bankruptcy court on Friday afternoon, came about after 19 months of negotiations.
If approved by the court, the sale would significantly add to the footprint of the 968-acre campus. A news release says Delaware will probably use the site for a research-and-technology campus to encourage partnerships with the military, local health-sciences organizations, and other businesses.
The site is adjacent to an Amtrak station, and university officials say they will take advantage of that proximity to improve mass transit to the campus.
Comments
1. denisejd - October 26, 2009 at 06:14 pm
FYI
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