Stanford University has announced that it has dropped plans to buy the Notre Dame de Namur University campus in Belmont.
The San Francisco Chronicle reports that Stanford cited several unforeseen factors that swayed its decision, particularly the changing landscape of higher education and financial challenges.
"As we were engaging with the Belmont community and City leaders, we were also exploring possible academic uses for a Stanford Belmont campus," said Stanford officials. "This process has clarified that identifying and establishing those uses for a potential Belmont campus will take significantly longer than we initially planned."
Notre Dame de Namur said it was disappointed with Stanford's decision, but will continue as an independent Catholic university on the campus as it seeks a different buyer for the site.
“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.” Notre Dame de Namur President Beth Martin said.
Stanford entered into an option purchase agreement in 2021 to acquire the 46-acre property. It had planned to create a satellite campus for 2,500 students, faculty and staff.
The site, roughly 13 miles from Stanford's main campus in Palo Alto, would have been called Stanford Belmont.
Local leaders in Belmont had hoped the campus could help revitalize the historic property, which has struggled financially in recent years.
