Syracuse University Chancellor Kent Syverud has announced the school’s new University Place Promenade, as part of a larger framework project, cost SU a total of $6 million, in response to questions raised by staff and students regarding the cost and necessity of the project.
According to Syverud, University Place maintenance, involving major water sewer mains, cost the school just over $2 million.
In addition, board of trustee member Steve Einhorn and his wife Sherry’s $1 million dollar naming contribution would go toward the additional, separate $4 million cost of converting the promenade into the “Einhorn Family Walk,” Syverud stated.
As part of the total $4 million, Syverud said he expects $2 million to come from philanthropic donations, which will include Einhorn’s $1 million, and leave a total of $2 million that SU will contribute to the promenade project privately.
“So the net cost to university funds of converting University Place to Einhorn Walk is expected to be $2 million dollars,” Syverud stated. “I believe that was a good investment in the university framework.”
Syverud made the announcement at a University Senate meeting on Oct. 12.