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Stanford University announced plans on Monday to spend $3.4 billion over the next 17 years on creating new housing for students and faculty and staff members, hoping to relieve a housing crunch that has it at odds with local county officials.
In April, Santa Clara County broke off talks with Stanford over a new development agreement, saying a deal the university struck with the local school district violated rules prohibiting it from making outside deals during negotiations, the San Jose Mercury News reported. County officials asserted that Stanford was offering more benefits to the community in exchange for easing regulations governing campus development.
In announcing its new proposal, which would create about 1,300 new housing units (including 575 at "below market" rates) and free up 865 housing units around the campus by opening more graduate student housing, a Stanford official said the university "makes no request to reduce or negate any" of the campus development standards.
