Oct 1, 2013
05:42 AM
Connecticut Today

Yale Receives $250 Million Gift - Largest in History

Yale Receives $250 Million Gift - Largest in History

The largest gift in Yale University’s history will pave the way for two new residential colleges to be built near Ingalls Rink.

Yale President Peter Salovey announced that 1954 Yale graduate Charles B. Johnson pledged $250 million to the project, which was proposed in 2008 but put on hold during the global economic decline.

Salovey called the gift “truly magnificent, and I am deeply grateful. I am thrilled that this gift brings us within $80 million of the funds needed to break ground on two new residential colleges.”

In a letter to the Yale community Monday, Salovey said the gift means groundbreaking on the buildings was “likely within the next few years,” and he would ask university officials to review the planning for the project.

Yale has 12 residential colleges, the most recent built in 1961. Yale College has not expanded since 1969, when women were admitted as students.

The proposed colleges will boost Yale’s undergraduate enrollment by 15 percent, to more than 6,000 students. Yale had a record number of applicants for the Class of 2017, accepting 1,360 out of 29,610 applications.

“Every year, there are far more deserving applicants than we can admit,” Salovey said. “By growing the size of Yale College by a modest amount, we will provide more outstanding young women and men with access to our outstanding faculty.”

Yale plans to pay for the new buildings entirely through donations.

For more of this story, visit New Haven Register online.

 

Yale Receives $250 Million Gift - Largest in History

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