Talks on the project began in 2007, with then-Drexel president Constantine Papadakis planning to build an undergraduate campus on donated land. Papadakis conducted aerial and ground tours of the site at the time.
Papadakis died in May 2009.
This month, Drexel president John Fry wrote to Robert Weygandt, chairman of the Placer County Board of Supervisors, to say that after a thorough assessment, "I have concluded that the construction of a brand new campus in Placer County is no longer feasible."
Drexel retains a presence in California, offering graduate-degree courses at a facility in Sacramento since 2009.
Fry said Drexel remained committed to its Center for Graduate Studies, which recently held commencement for 100 graduates. That center offers eight programs, including a full-time master of finance degree this fall.
Drexel has more than 23,500 students, with its main campus located in the University City section of Philadelphia.
Contact staff writer Jeff Gammage at 215-854-2415, firstname.lastname@example.org, or on Twitter @JeffGammage.
This article contains information from the Associated Press.