Central European University has embarked upon a comprehensive plan to redevelop the University's current real estate stock in order to create a campus which would be unique in the Central and Eastern European region. Announcing the plan President and Rector John Shattuck stated that the entire university community would benefit from the redevelopment plans and noted that the proposal had met with general enthusiasm. He added that Chief Operating Officer, Liviu Matei would coordinate the overall project. A Campus Redevelopment Office (CREO) was established and, on July 1, 2010, Stuart Durrant was appointed Campus Redevelopment Director, responsible for delivering the project.
CEU's community has been involved from project inception and will continue to be consulted through all phases; CREO will also be advised by a committee comprising CEU faculty, staff and students, and Open Society Institute representatives. The plan aims to redevelop approximately 30,000 square meters in the center of Budapest to provide facilities for 2,000 students, 300 faculty and researchers, and 250 staff members. Substantial renovations will be required in several buildings, while those under statutory protection will receive only partial refurbishment.