They were able to lease some property on campus–for a whopping $15,000,000. Yes, that’s 15 times 10 to the 6th power. Fifteen million bucks. If I read the article correctly, that was $5,000,000 for the lease and other initial costs, $5,000,000 for renovation, and $5,000,000 to create an endowment fund for the center. They’re still working on the last $10,000,000.
Wow. I remember when I was a student back in Louisiana, and we were able to purchase a house and a six unit apartment complex for less than 1% of that price (a relatively paltry $90,000).
Doesn’t look like we’ll be getting a Chi Alpha house at Stanford anytime in the near future–unless you’d like to charge $15,000,000 to your credit card!