Foster’s $150 million (£104 million) School of Management at Yale had been scheduled to open in 2011 but the Ivy League school’s president Richard Levin announced that the construction of the school has been postponed ‘until market conditions improve’. However, he added that the design process for the 22,000m² scheme, which was only unveiled in December, would proceed.
The project is one of several at the university that have been affected, including a $200 million biology building by Cesar Pelli, as a result of a 25 per cent reduction in the school’s endowment fund from a reported $22.9 billion to $17 billion.
Meanwhile, Foster + Partners are one of six practices shortlisted to design the National Museum of African American History and Culture in Washington DC. Other shortlisted practices include David Adjaye's Adjaye Associates in partnership with Freelon and Davis Brody Bond; Pritzker award-winner IM Pei's Pei Cobb Freed & Partners; Diller Scofidio + Renfro; Moshe Safdie and Associates and Moody Nolan.
Construction of the building, which is estimated to cost $500 million is expected to start in 2012 and complete by 2015.