October 4, 2004
Purchase of Texas Instruments site finalized
By Elizabeth Irwin
UCSC has announced the closure of escrow to purchase the land
and facilities formerly occupied by Texas Instruments. All paperwork
was finalized on September 24. The site is located at 2300 Delaware
Avenue in Santa Cruz.
“This is a unique and very desirable opportunity for our
campus,” stated Acting Chancellor Martin M. Chemers. “Vice
Chancellor Tom Vani and his team have facilitated the acquisition,
and they deserve enormous credit for this major addition to
campus resources.”
Near the array of research facilities at Long Marine Laboratory
and vicinity, the facilities may serve to consolidate current
off-campus leases used for administrative operations and to
house research and teaching activities. Plans for use of the
property are still being finalized.
"Although we don’t yet have detailed plans for this
facility,” Chemers noted, “it is clear that there
is great potential for a range of uses, and we are finalizing
a process for allocating this new space to highest priority
needs."
The purchase price of the property and its contents is $5 million,
constituting a bargain sale. The difference between the appraised
value of the property ($11.5 million) and the purchase price
represents a $6.5 million charitable contribution. Additional
gift value will be attributed to the contents of the property
at a later date. “This generous gift provides a significant
boost to private support and underscores TI’s history as
a benefactor of education,” noted University Relations
Vice Chancellor Ronald P. Suduiko.
The 18.5-acre site encompasses a total of approximately 232,000
gross (136,000 net) square feet of facilities, including a large
"clean room," a specially designed computer area,
extensive space that could be used for classrooms, laboratories,
and offices, plus ample parking.
Besides providing needed space, the site offers the potential
of a new campus and community partnership. University and city
of Santa Cruz officials are discussing the feasibility of locating
a business incubator or some other enterprise at the location.
Return to Front Page