Yale Endowment down 25%

[wjb]

<p>Related Yale Daily News article: [Yale</a> Daily News - ENDOWMENT FALLS 25 PERCENT; NEW SOM CAMPUS DELAYED, NEW COLLEGES COULD BE NEXT](<a href=“http://www.yaledailynews.com/articles/view/26942]Yale”>http://www.yaledailynews.com/articles/view/26942)</p>

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But certainly the most dramatic announcement in Levin’s letter was his fifth point — that major construction projects would be stalled because of the economic woes. Levin said the renovations of Morse and Ezra Stiles Colleges would not be delayed, and he said no already-approved projects would be canceled. </p>

<p>Even still, Levin said that construction on the already-delayed Yale Biology Building project will be postponed for another year, and that the new campus for the School of Management and the second phase of the renovation of the Yale University Art Gallery will be tabled indefinitely “until funding is secured or market conditions improve,” as Levin put it. </p>

<p>Design work and fundraising for the two new residential colleges will continue, Levin said, but that project may also be delayed. Planning and development at the West Campus will also continue, albeit at a slower pace, the president said.

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