UC San Diego will not be able to raise the $7.2 million needed to rebuild the chancellor’s ocean-view mansion that was closed last summer due to structural and seismic code deficiencies.
The announcement was made Thursday, but UCSD officials wouldn’t say how much money had been raised to tear down and rebuild an 11,400-square-foot replacement home for Chancellor Marye Anne Fox.
A fund-raiser began in October and the deadline was April 1. The decision was made that too many other projects were competing for private funds.
The existing home, known as University House, was built in 1950 and is valued at $12 million.
Under the authority of the UC Office of the President, the University House Work Group will reconvene to look at other options, including selling the property, located on the ocean bluffs in tony La Jolla Farms.
According to UC policy, chancellors are to live in designated university housing. Fox has been staying in a home near the campus rented by the school for $6,500 a month.