Over the last six weeks, the Free Press has been gathering reporting on the damage caused by the construction of The New School’s University Center to its neighboring buildings. The article was spurred after the discovery that in early March, The New School spent $1.54 million on a luxurious duplex apartment stretching from 5 E. 13th St. to adjacent 10 E. 14th St., two buildings allegedly damaged by the massive construction project.

On Wednesday, October 17, during a university-wide town hall meeting, President David Van Zandt announced that The New School had fallen short of its yearly admission target, putting the financial security of the institution in jeopardy. Just two days earlier, Van Zandt sent an email to faculty and staff of The New School announcing that no pay raises would be awarded for the third year straight. It’s clear that finances at The New School are tight and that every penny is being counted.

When asked about the 5 E. 13th St. unit purchase, The New School’s communications department denied the Free Press access to such key administrators such as Vice President of Design, Construction and Facilities Management, Lia Gartner and Senior Vice President for Business, Frank Barletta. Our reporters were instead forwarded to Associate Director of University Communications, Sam Biederman. Biederman said that The New School purchased the $1.54 million apartment as a real estate investment, but refused to comment on why the university would want to invest in a potentially — almost certainly — damaged property.

In this time of financial insecurity, transparency is crucial. Otherwise, all trust that students and faculty have in their administration will be lost. President Van Zandt and New School officials must explain — and make a case for — large investments like the purchase of a nearly $2 million residential property in a time of financial austerity. They owe it to the faculty who have seen their pay scales stagnate, and the students whose investments in this institution allow it to function.