From Jerry Berenson, Chief Administrative Officer at Bryn Mawr College:
Inna,
I understand from Chris Gluesing in Facilities Services that you have some questions about the possible sale of Glenmede. I have been dealing with this and so thought I would respond. We did talk about the possible sale to the Resident's Council and SGA, because we do want students to be informed about the College's plans.
The cost of maintaining Glenmede is more than $150,000 annually and the property is worth a lot of money - its been appraised at $11 million. The buildings also need to be upgraded periodically for building code and safety reasons and that costs a lot - we spent close to $3 million on the property less than ten yeas ago. It might not be cost effective to keep the property when only 19 undergraduates and about ten graduate students live there. We brought this issue to the Board of Trustees at the October meeting. The Board decided that we should get more information about the value of the property before they decide whether or not to sell it. So there has been no decision to sell the property yet. We will discuss this again at the February meeting. I will be glad to bring your concern and the concern of other students to the Board members when they discuss the property. We have shown the building to real estate professionals (but not possible buyers since its not on the market) in order to determine its estimated value and possible ways of marketing the property. Let me know if you have any other questions.
Jerry
1 comment:
Inna,
I came across your blog and am interested to know if you received any updates about Glenmede after the February meeting of the Board of Trustees? Or have you had any contact with Jerry Berenson since his last posting in November 2006?
Best,
Gina Yu
Class of '99
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