Memorial University’s Board of Regents have approved the divestment of several properties that it says are “not central to Memorial’s academic mission.” The impacted real estate includes the Signal Hill Campus, the Johnson Geo Centre, the Ingstad building, and the UK-based Harlow Campus. Memorial President Dr Janet Morrison said that the decision will help the university right-size its physical footprint, reducing Memorial’s annual operating expenses by at least $3M and its deferred maintenance liability by an estimated $20M. “This decision to pursue divestment of these assets is not a value judgement on the quality of work done in these areas, nor does it mean that activities and units within those buildings will end,” said Morrison.
