Stanford was vying with other universities for the chance to build a new graduate school in New York.
Stanford University officials today said they are dropping their bid to build an applied sciences and engineering campus on Roosevelt Island in New York City.
The Palo Alto university has been vying with other universities for the chance to build the new graduate school, proposed by New York Mayor Michael Bloomberg. University officials engaged in several weeks of negotiations with New York officials before dropping out of the competition.
"I applaud the mayor's bold vision for this transformative project and wish the city well in turning that vision into a reality," Stanford President John Hennessy said. "Stanford was very excited to participate in the competition and we were honored to be selected as a finalist."
Hennessy said the process had helped forge a partnership with the City College of New York that would continue to benefit New York City students.
The New York Times is reporting that Cornell University is now considered the main contender for the project. A final decision by the city is expected in January.
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