Grand Canyon University, selected last month as the recipient of a 217-acre campus in Northfield, Mass., that was to be given to a Christian institution, has decided that it will not accept the property after all. Grand Canyon Education Inc., the company that owns the Phoenix-based for-profit university, said in a document filed with the U.S. Securities and Exchange Commission on Monday that it had determined it would not be in the company’s best interest to proceed with development of the campus. Jeffrey M. Silber, an analyst with the investment bank BMO Capital, speculated that the decision signaled a recognition by the company that the benefits of developing the campus would not be seen for several years and might require it to commit more resources than it initially thought.
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