My opinion: I had no idea that universities were going into the billions to raise money for medical schools. I know that at my school, there are also fundraisers for a new building, as well. The problem is, where exactly is this money coming from, and is there enough of it? I've previously mentioned that big pharma could be to the rescue in the near future (which may not be the best option), but I think a lot of the funds might come from private donors. Nonetheless, I'm having trouble understanding how that will add up to $1 billion. Not to mention that money might be involved in the legal fight for land. I sometimes think that too much money is put into universities and is taken away from grade school. I know they need money to do research, but can they still cut back? If one school does, will it set a precedent? Feel free to comment.
Northwestern Medicine announces plan to commit $1 billion for research
BY MONIFA THOMAS Staff Reporteremail@example.com January 14, 2013 5:58PM
Updated: January 15, 2013 12:01PM
Northwestern Medicine announced that it plans to commit more than $1 billion for medical research on Monday, though the “linchpin” for the proposed research site is not a done deal.
Northwestern says the centerpiece of the $1 billion investment will be on construction of the new proposed building at the site of the former Prentice Women’s Hospital at 320 E. Huron.
“In order to build a 21st-century biomedical research facility, expand our medical school’s research capacity and ultimately improve patients’ lives, it is imperative that we have a thriving scientific research base,” said Morton Schapiro, Northwestern University president, in a statement.
Northwestern plans to focus on such areas as neuroscience, heart disease, diabetes and cancer.
But the necessary approvals from the city of Chicago and resolution of a lawsuit currently pending in Cook County Circuit Court for the Prentice site still need to be resolved before Northwestern can move forward with its plan.
On Friday, Cook County Circuit Court Judge Neil Cohen refused to overturn a decision by Chicago officials to withhold landmark protection from the Streeterville building. But Cohen left in place for another 30 days an order barring its destruction.