Steven Lerman is the University’s provost.

I’m writing in response to the article, “GW shakes up plan to cover massive SEH debt after fundraising flop,” by Colleen Murphy (p. 1, Nov. 17).

This article may have left the false impression that the University’s plan to fund construction of the building will leave GW in a financial bind and unable to afford other priorities. This is not the case.

The intention has always been to use the commercial leasing revenue from Square 54, also known as The Avenue complex, as a source of funding for construction of the Science and Engineering Hall. This plan was approved by the University’s Board of Trustees and announced publicly.

What is new is that because interest rates are lower, the revenue covers more debt than previously anticipated, and, in fact, will provide the majority of the funding for the building’s construction.

The ability to fund more of the construction from Square 54 revenue will compensate for a fundraising trend where donors give more to scholarships, academics and programs than to buildings.

As I noted at the recent Faculty Senate meeting, we have raised three times more for programming related to SEH than for the building itself. However, the University’s plan to build SEH inspired those gifts, and we anticipate that momentum will continue.

The bricks and mortar are the foundation for a learning hub that will significantly enhance our ability to conduct cutting-edge research to address today’s global challenges and educate future generations of pioneers of innovation and inquiry. With this foundation in place, our ability to fundraise will be enhanced and will continue beyond the building’s opening.

We have an exciting opportunity before us to make history in the classroom and beyond, and I look forward to seeing students and faculty at work in this outstanding new facility next semester.