UConn board expected to approve branch campus sale

July 4, 2018 GMT

WEST HARTFORD, Conn. (AP) — The University of Connecticut Board of Trustees is expected to approve the sale of the university’s former West Hartford branch campus to a global financial technology company for $5.2 million.

A special meeting is planned for Friday.

Democratic Gov. Dannel P. Malloy announced Tuesday that Seven Stars Cloud Group Inc., or SSC, plans to transform the 58-acre site into its new headquarters. The $238 million project, dubbed Chain Valley, is expected to create 330 jobs over the next five years.

Besides the trustees’ action, the sale requires local approvals. The property includes five buildings, some of which the company plans to renovate.

The West Hartford branch’s operations were moved to the city of Hartford in the fall of 2017. The school says it no longer needs the land or buildings.