The University of Washington has announced gifts of cash and real estate leases from Jay H. Shidler.
The gift from the Hawaii-based businessman includes a two-and-a-half-acre parcel of land in Seattle's South Lake Union neighborhood that currently houses a cluster of UW Medicine buildings. Under the arrangement, UW will benefit from future lease proceeds until 2115, at which point half the ownership of the land and buildings will be transferred to UW and divided equally between UW Medicine and the UW School of Law. The other half will go to the Shidler College of Business at the University of Hawaiʻi at Mānoa.
Shidler also made a substantial gift of cash in support of the existing Shidler Lecture Series at UW, which is designed to expose students to leading-edge practitioners, judges, and scholars. The South Lake Union parcel is one of eleven properties included in a $117 million gift of cash and real estate leases Shidler made in late 2017 to the Shidler College of Business. His latest gift honors his relative Roger Shidler, a 1924 graduate of the UW School of Law.
"We are deeply grateful for this extraordinary support for the University of Washington's long-term future by Jay Shidler, an innovator and visionary whose creative structuring of this gift will benefit future generations of students in the UW School of Law and UW Medicine, as well as the clients and patients they will serve," said UW president Ana Mari Cauce.
"Universities are long-lived institutions," said Shidler. "So it is imperative that they have long-term financial stability to position them for the future, whether that means twenty or thirty years from now, or even ninety-nine years from now."
(Photo credit: University of Hawai'i)