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Hartford Courant: UConn Trustees Approve Sale Of West Hartford Campus to Financial Tech Company

Sam Belden

Sam Belden

The UConn Board of Trustees approved the $5.2 million sale Friday of the former UConn campus in West Hartford to a digital financial technology company, Seven Stars Cloud Group (SSC).

The New York company led by Bruno Wu, a Chinese billionaire plans to move its global headquarters for technology and innovation to the campus, creating 330 jobs over the next five years.

Wu said in a statement issued after the vote: “I commend the University of Connecticut’s Board of Trustees for its decision this morning to approve the sale of its former West Hartford campus to Seven Stars Cloud Group, Inc., and I now look forward to working with West Hartford officials and residents in making this a project that the entire town can embrace.”

After a brief trustee meeting, UConn’s Chief Financial Officer Scott Jordan told reporters the deal is a good one for the university.

“Given that UConn has no use for this property, we will be avoiding $500,000 [annually] in maintenance costs and receiving $5.2 million,” Jordan said. Last year, UConn stopped using the property as a branch academic campus and moved that operation to downtown Hartford.

Gov. Dannel P. Malloy said earlier this week at a news conference announcing the plan that the now-empty college campus would become a “thriving center for research, training and business development.”

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