As the ongoing recession eviscerates college endowments, even at those schools whose investment gains during the boom years were legendary, it is stalling ambitious construction projects.
One recent casualty is Yale. The Ivy League school, which is the nation’s second richest university, lost 25 percent of its endowment over six months, from $22.9 billion to $17 billion, and so has shelved multiple plans for new buildings and renovations, many involving brand-name architects.
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