The University of Texas System on Wednesday said it is ceasing efforts to launch a UT project on land it purchased in Houston last year.
Chancellor William McRaven said the decision was based on concerns that the project was overshadowing work on the existing 14 campuses. He also advised the Board of Regents to stop any further efforts on the Houston project.
“I accept full responsibility for the lack of progress on this initiative. I am grateful to the Regents, my System staff and the university presidents for their engagement over the last year,” McRaven said in a memo to Regents’ Chairman Paul Foster.
“I also offer my deepest apology to those members of the Houston Task Force who selflessly dedicated countless hours to develop a bold vision for the future of UT’s investment in Houston. I am incredibly appreciative for their support and friendship throughout this process. While we will not implement this plan in Houston, I am confident that some of the great ideas that emerged from the Task Force will be worth considering on other UT campuses,” McRaven added.
According to KVUE’s partners at the Austin American-Statesman, the UT System purchased the land for $215 million. The university said McRaven recommended the UT System real estate office develop a plan to divest the system of the land.