[oh_sigh]

But OP said that the government could also pony up billions of dollars for the project. The main point seemed to be that universities are wasting their endowment with fancy buildings instead of doing science.

[3rdAccount]

New fancy buildings entice more students with heavy student loans to spend.

[davrosthedalek]

New buildings and the possibility not to penny-pinch every time also makes a much nicer work/study environment.