By: E&P Staff
The University of Maryland announced today that it reached agreement to buy The Washington Post’s production plant in College Park for about $12 million, allowing the university to transfer some operations from its east campus to the 300,000-square-foot plant.
The deal awaits approval by Maryland’s Board of Public Works, which is expected to vote on the matter next month. The university would then have to convert the building for its own uses.
Originally not to be shuttered until this summer, the facility was closed by the Post last year. In late 2007, the university daily’s Web site, Diamondback Online, reported that the plant was “the city’s largest taxpayer,” at $272,000, and employed about 250 people.
If the deal is approved in two weeks, the plant will add 18.5 acres to the 38 that that the east campus now occupies.
“This facility provides the space we need to strategically and cost-effectively phase in our East Campus relocation projects, minimize environmental impacts to campus woodlands, and limit disruption to our critical campus services,” U of M Administrative Affairs Vice President Ann G. Wylie said in a statement.