ASHBURN, VA. — The George Washington University (GW) has sold the Viginia Science and Technology Campus (VSTC) in Ashburn, about 30 miles northwest of Washington, D.C. Amazon Data Services, a subsidiary of Amazon Web Services, purchased the property for $427 million, according to local media reports.
Amazon plans to develop the 122-acre site into a data center, according to The GW Hatchet, the university’s student newspaper. Ashburn is situated in Loudoun County, which is dubbed locally as “data center alley.”
The transaction agreement ensures that the university has the option to keep programs at VSTC for up to five years.
Launched in 1991, VSTC supports research in engineering, physics and chemistry and is home to both academic programs and administrative services. GW’s School of Nursing, the Earthquake Engineering and Structures Laboratory and the Avenir Foundation Conservation and Collections Resource Center are all housed on the campus.
“As stewards of the university’s mission, we must continually assess how best to use our resources in service of our community and future generations of GW revolutionaries,” wrote Ellen Granberg, president of GW, in a letter regarding the sale. “This includes our real estate portfolio, a critical asset that supports our academic mission, the students, faculty and staff who advance it, and the university’s long-term financial strength. With this in mind, the university had to take seriously the opportunity to realize the extraordinary benefits a sale at this time would yield.”
Prior to the sale’s closing, the GW Board of Trustees passed a resolution directing that a significant portion of the proceeds be used to establish a new endowment. The proceeds from the endowment will be used to make strategic investments in research and teaching missions and to increase resources available for student financial aid.
The board resolution also included a proposal submitted by the administration to use some of the funds to provide a one-time bonus payment to eligible GW faculty and staff.
Chartered in 1821, GW’s main campus is located in Washington, D.C.
— Kristin Harlow