In a prior communication, I outlined the possible sale of a portion of WCIU’s property, our ongoing commitment to maintaining a “footprint” in Pasadena and the vision we have for the future.
Throughout this process, the WCIU Board has kept three main questions in play as we start to assess offers that emerged:
- How much does the buyer share the values of WCIU?.
- How will this buyer enable the minimum disruption to our own operations and functions as well as that of our wider community of partners, collaborators, and tenants?
- Does the offer in question represent a mutually beneficial financial value?
I am excited to report that we have entered more serious discussion with a specific potential buyer who fulfills these criteria. At the time of this writing, this is still a non-binding relationship. Either we or they can end the discussion at any time without any risk. In this period, we are engaged in the details of what might be sold, what will be kept, and how we might work together in the future as well.
There are still a number of challenges: we need to agree on all the exact details, and that will take time. Even once we get to that agreement, there will be significant time needed as the buyer would need to secure their funding.
While details are still being discussed, I can say at this stage that more than half of the houses as well as Hudson Taylor Hall are all not in the sale and will remain in the hands and use of WCIU and FV.
WCIU's Vision for the Future
I am encouraged knowing that WCIU is poised for a next era of growth and impact as we continue to equip men and women to work at the roots of human problems. Our plans include growing the number of our students and the number of agencies we serve, growing the number of faculty, scholar-practitioners and alumni involved in the WCI Society, and eventually offering our programs in 12 major languages globally.