Yale to purchase massive research complex for $100M+; expand research exponentially

Colleges and Universities A-Z Yale University
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<p>Yale already has more research spending per science student than any other university in the country except Caltech. Now, with hundreds of thousands of square feet of nearby additional research space that will cost Yale nothing to build, Yale may surpass even Caltech.</p>

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<p>Yale University News
Office of Public Affairs
Phone: (203) 432-1345 </p>

<p>CONTACT: Helaine Klasky (203) 432-1345
For Immediate Release: June 13, 2007</p>

<p>Yale University To Expand Medical and Scientific Research Programs With Acquisition of Bayer Complex</p>

<p>New Haven, Conn. — President Richard C. Levin announced that Yale University’s efforts to expand and strengthen its medical and scientific research programs will take a major leap forward with the acquisition of the Bayer HealthCare complex in West Haven and Orange, Connecticut.</p>

<p>The purchase of the facility — which features approximately 550,000 square feet of laboratory space, as well as office buildings, warehouses, and other facilities — will dramatically increase the University’s ability to launch research programs addressing crucial issues affecting human health and quality of life. Financial details of the transaction will be disclosed at the time of closing.</p>

<p>"Yale is already in the midst of a boom in the expansion of its science and medical facilities," said Levin. "The addition of this ready-made, state-of-the-art research space will allow that growth to accelerate at an unprecedented level — potentially making it possible for Yale scientists to develop new discoveries, inventions and cures years earlier. The availability of Bayer’s science laboratories will enable us to undertake research programs that we would not have had space to develop for a decade or more."</p>

<p>"The heart of the Yale campus will always remain in New Haven," said Levin. "In fact, the University is already committed to building more than 2 million square feet of new facilities in its home city over the next six years. And we are in discussions about the possibility of leasing a significant amount of space in Science Park to help strengthen its role as an incubator for science-based start-up companies."</p>

<p>As part of the acquisition of the Bayer complex, Yale will be making voluntary payments to West Haven and Orange in proportion to the voluntary payment made to New Haven. The municipalities will receive additional PILOT (Payment in Lieu of Taxes) funds from the state in recognition of the property’s future nontaxable academic status.</p>

<p>The Bayer HealthCare complex is located on 136 acres in West Haven and Orange. The complex features 17 buildings — all built between 1968 and 2002 — in three categories: research lab space (550,000 square feet), administrative office space (275,000 square feet) and manufacturing and warehouse (600,000 square feet). The oldest of these are the manufacturing facilities, which were built for Miles Laboratories, a former division of Bayer HealthCare. One of the newest buildings is a 125,000-square-foot chemical research facility, used for the development of drugs to treat cancer, diabetes and obesity. </p>

<p>"This significant increase in research facilities comes at an opportune time in Yale’s history," said Levin. "As part of its $1 billion commitment to strengthening science and medical research, Yale has substantially increased its science and medical space since 2003. We’ve opened new chemistry, engineering, environmental and medical buildings, and more are in the planning stages. These major new facilities house departments and interdisciplinary research centers that are changing the course of modern scientific inquiry."</p>

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<p>posterX, you beat me to it!</p>

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<p>Do you think the acquisition was made possible using some of the $3 billion Yale has been raising this year? Otherwise they'd have to use the $20-25 billion endowment, but that's technically mostly restricted for particular uses.</p>

4

<p>It would be nice if they use some of that money to improve New Haven. Last month when I was there it looked pretty scary. So sad..</p>

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<p>As a potential science major it's exciting to see that Yale is exponentially improving their science facilities (which is already very impressive in my eyes). Also MovieBuff, Yale is currently investing a significant amount to improving the New Haven area. Also I wouldn't say that the area around Yale is sad or scary but the outskirts could use improvement which I believe Yale is investing in.</p>

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<p><a href="http://www.yale.edu/opa/newsr/05-04-12-03.all.html%5B/url%5D"&gt;http://www.yale.edu/opa/newsr/05-04-12-03.all.html&lt;/a&gt;&lt;/p>

<p>"For Immediate Release: April 12, 2005 (#113)</p>

<p>Yale to Boost its Voluntary Contribution to New Haven
New Haven, Conn. — President Richard C. Levin today announced a significant increase in the voluntary payment that Yale University makes each year to the City of New Haven.</p>

<p>Under a new formula adopted by the University, Yale’s voluntary payment will increase by 80 percent in the city’s next fiscal year to $4.18 million, up from the current contribution of $2.3 million.</p>

<p>The University estimates that annual voluntary contributions to the city under the formula will total $470 million or more over the next 50 years."</p>

<p>I was there last month, too. New Haven was actually a pretty good college town for my somewhat sheltered daughter over the last four years.
The outskirts need some help, but overall, New Haven is so much more appealing than it was 15 years ago. There are great restaurants, nice living areas, shops, places to run... not scary at all. But then I'm from Los Angeles, so cities are not particularly scary to us.</p>

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<p>Yale just hands out money to New Haven? huh...</p>

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<p>well, I really do not think that anyone thinks of New Haven as "a city". I guess if you are familiar ,visually, with the slums of cities like New York, Chicago or Los Angeles, then New Haven does not look that bad. It does look better than 15 years ago...( hell, Harlem, the Bronx and Cabrini Green also look better than 15 years ago )</p>

<p>I think it is the bad thing about Yale. A few of those millions would help imorove the surrounding areas tremendously. Then again Yale is Yale.</p>

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<p>The U.S. Bureau of Economic Analysis considers New Haven a city, MovieBuff. And as far as helping surrounding areas, why would Yale do that considering that New Haven is already the richest city in the United States outside of the San Francisco Bay Area? Of course there are some lower-income areas there, which are filled with immigrants. You get that in every city! New York City is also very wealthy, but it too it has millions of immigrants and areas with lower-quality housing. Overall, the area of Downtown New Haven surrounding Yale has become one of the best college towns in the country. If Yale invests even more, it's just going to get too expensive for any of the students. Already, there are apartments there going for $3,000 a month, condos going for a million dollars, and restaurants that will charge you $80 for dinner. I think Yale should invest less... or use the money to invest in nearby cities like Springfield and Providence that are poorer than the U.S. Average despite being in expensive parts of the country to live.</p>

<p>Per Capita Incomes in 2001 for Cities - U.S. Department of Commerce Bureau of Economic Analysis</p>

<p>United States Average $30,413</p>

<p>Wealthiest urban areas in the U.S. and $$$:</p>

<ol>
<li>San Francisco, CA 57,714</li>
<li>San Jose, CA 51,579 (Silicon Valley)</li>
<li>New Haven, CT 48,453</li>
<li>Bergen-Passaic, NJ 43,856</li>
<li>West Palm Beach-Boca Raton, FL 43,626</li>
<li>Middlesex-Somerset-Hunterdon, NJ 43,292</li>
</ol>

<p>Other Northeastern urban areas above the U.S. Average:</p>

<p>Washington, DC-MD-VA-WV 41,754
Nassau-Suffolk, NY 41,559
New York City, NY 40,949
Boston, MA 39,873
Hartford, CT 37,819
Philadelphia, PA 33,750</p>

<p>Other Northeastern urban areas that are poorer than the U.S. Average:</p>

<p>Providence, RI 29,824
Springfield, MA 28,705
Syracuse, NY 27,021
Utica, NY 24,452</p>

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<p>"Do you think the acquisition was made possible using some of the $3 billion Yale has been raising this year? Otherwise they'd have to use the $20-25 billion endowment, but that's technically mostly restricted for particular uses."</p>

<p>That trifle 3 billion isn't merely enough to fund something of that magnitude. The Yale endowment has a reserve for research funding that totals about a quarter of the total. It's not out of the normal to see it's being exercised once in a while.</p>

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<p>Sorry for bumping such an old post; I recently heard about this from my science group. </p>

<p>Do any Yale students know if this will possibly open up additional research programs for students who do not attend Yale (through summer programs, internships for students from other college in the New Haven area, High School students, etc.)? Or will it be exclusively for Yale Medical students/science undergrads?</p>

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<p>I think there is a question about how much even Med School and undergrad students will use it. I get the sense that it's more for faculty and maybe grad students. It relieves the crunch on campus, while keeping students on the main campus. They're talking about using part of it for storage space for works from the museums, so it isn't totally for scientific use. If you are interested in opportunities in the near future, I think there's also an issue of how quickly the space will be up and running for use. A couple months? A couple years? I have no answer to your question, but the question I raise suggest that you shouldn't count on anything like you describe in the immediate future.</p>

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<p>PosterX:</p>

<p>The list I see looks a lot different than the one you have:</p>

<p>Top 50 US Metros ranked by Per Capita Personal Income, Released Aug 7, 2007 by The Bureau of Economic Analysis of the Dept of Commerce.</p>

<p>But first, Congratulations to New Orleans, its increase is amazing.
53 New Orleans $38,343 +89.7% </p>

<p>Rank, Metropolitan Area, Per Capita Income, Annual Growth Rate
1 Bridgeport-Stamford-Norwalk, CT $71,901 +6.9%
2 San Francisco-Oakland-Fremont, CA $55,801 +6.2%
3 San Jose-Sunnyvale-Santa Clara, CA $53,533 +6.1%
4 Naples-Marco Island, FL $53,265 +7.6%
5 Washington-Arlington-Alexandria, DC-MD-VA-WV $51,207 +5.2%
6 Boston-Cambridge-Quincy, MA $50,085 +6.2%
7 Sebastian-Vero Beach, FL $49,305 +6.7%
8 Trenton-Ewing, NJ $48,964 +6.6%
9 New York-Northern-New Jersey-Long Island, NY-NJ-PA $48,397 +6.9%
10 Boulder, CO $48,324 +5.4%
11 Napa, CA $46,286 +6.0%
12 Barnstable Town, MA $46,258 +5.2%
13 Santa Cruz-Watsonville, CA $45,849 +7.5%
14 Casper, WY $45,814 +10.5%
15 Midland, TX $45,274 +10.8%
16 Denver-Aurora, CO $44,299 +4.6%
17 Seattle-Tacoma-Bellevue, WA $44,228 +6.3%
18 Hartford-West Hartford-East Hartford, CT $44,194 +4.3%
19 Sarasota-Bradenton-Venice, FL $44,042 +5.9%
20 Minneapolis-St Paul-Bloomington, MN $43,696 +3.8%
21 Baltimore-Towson, MD $43,549 +5.4%
22 Reno-Sparks, NV $43,209 +4.7%
23 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD $42,988 +5.6%
24 San Diego-Carslbad-San Marcos, CA $42,797 +5.5%
25 Santa Rosa-Petaluma, CA $42,738 +5.7%
26 Santa Barbara-Santa Maria-Goleta, CA $42,385 +4.7%
27 Oxnard-Thousand Oaks-Ventura, CA $42,342 +4.9%
28 Manchester-Nashua, NH $41,895 +5.1%
29 Ocean City, NJ $41,651 +5.3%
30 Houston-Sugar Land-Baytown, TX $41,429 +5.7%
31 Chicago-Naperville-Joliet, IL-IN-WI $41,161 +5.7%
32 New Haven-Milford, CT $41,094 +5.0%
33 Norwich-New London-CT $41,019 +4.4%
34 Madison, WI $40,671 +4.3%
35 Santa Fe, NM $40,500 +6.8%
36 Ann Arbor, MI $40,381 +1.7%
37 Milwaukee-Waukesha-West Allis, WI $40,316 +5.6%
38 Anchorage, AK $40,137 +4.5%
39 Carson City, NV $39,958 +5.4%
40 Cheyenne, WY $39,936 +8.7%
41 Miami-Ft Lauderdale-Pompano Beach, FL $39,628 +5.7%
42 Des Moines-West Des Moines, IA $39,579 +4.9%
43 Pittsfield, MA $39,463 +5.0%
44 Omaha-Council Bluffs, NE-IA $39,448 +5.4%
45 Dallas-Ft Worth-Arlington, TX $39,187 +5.3%
46 Los Angeles-Long Beach-Santa Ana, CA $39,011 +6.2%
47 Worcester, MA $38,814 +5.3%
48 Pittsburgh, PA $38,717 +6.0%
49 Rochester, MN $38,715 +3.2%
50 Honolulu, HI $38,689 +5.1%</p>

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<p>There are different figures published by the BEA, depending entirely on whether or not you consider New Haven and Bridgeport/Norwalk to be a part of the same urban area or to be a part of two different areas. Considering that they are only 15 miles apart, in any other part of the United States they would be considered to be the same city and measured together. However, either way that the BEA measures it, New Haven is among the wealthiest cities in the country. Whether it is #3 in the U.S. or #30 (out of hundreds of different cities across the country) doesn't change the point I made above -- i.e., Providence is #71, Springfield is #125, Ithaca is #228, etc.</p>

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<p>PosterX:</p>

<p>This is nonsense. I live in Southbury and work in Wilton. There is virtually no statistic that includes New Haven with (not Bridgeport/Norwalk), it is Bridgeport/ Stamford / Norwalk and many times Danbury. No where does there exist any statistic that shows that New Haven is one of the wealthiest cities in the country. Stop spreading misinformation.</p>

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<p>The following paragraph shows how wealthy New Haven is:</p>

<p>The city is best known as the home of Yale University and the National Historic Landmark New Haven Green. Along with Yale, healthcare (hospitals, biotechnology), professional services (legal, architectural, marketing, engineering), financial services and retail trade form the base of the economy. Since the mid-1990s, the city's downtown area and many of its neighborhoods have seen extensive revitalization, though poverty remains an entrenched problem for the country's fourth poorest city.[7]</p>

<p>By the way, the median family income for New Haven is $29604.</p>

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<p>PosterX: These are the median family incomes for the cities you're referring to:</p>

<p>New Haven = 29604
Providence = 32058
Springfield = 30417
Ithaca = 21441</p>

<p>It seems that only Ithaca is lower than New Haven. Perhaps the cost of living is a lot less in upstate NY than southern CT??</p>

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<p>New Haven is NOT part of Norwalk or Bport, I have never heard anyone actually say that. </p>

<p>I live in New Haven...there are bad and there are good parts. Get over it, who cares. Overall the Yale area is nice, unless you walk down Dixwell towards Hamden or something you will be fine.</p>

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<p>DocT, unfortunately those figures are for municipal boundaries, not the urban area, which makes them basically meaningless. The reason why the Census Bureau's urban/metro area figures are always used in comparisons instead of the ones you posted above is because municipal boundaries vary so greatly -- some "cities" only cover 14 square miles while others cover hundreds or even thousands. If you are looking at "municipal" figures for the cities that cover tiny areas of land, particularly those in New England, the main reason why the numbers seem low is because proportionally a huge % of the population consists of college students with an income of $0 and because you basically cut out all of the suburban areas built after 1930, which are mostly middle-class.</p>

<p>The only comparisons that really compare apples to apples are found here: <a href="http://talk.collegeconfidential.com/showpost.php?p=4288812&postcount=9%5B/url%5D"&gt;http://talk.collegeconfidential.com/showpost.php?p=4288812&postcount=9&lt;/a&gt;&lt;/p>