(from Slate) An institution is only as strong as its neighborhood: That's the thinking at growing numbers of colleges and universities (and independent schools) that are purchasing off-campus properties to simultaneously enhance the quality of life in their broader communities, expand programming and, in many cases, strengthen their financial footing.
The University of Pennsylvania's West Philadelphia initiative, which began in the 1990s, helped employees buy houses, expanded campus police patrols, supplemented public services and even started a new public school in the area known as University City. More recently, schools including Washington University in St. Louis, Cornell and the University of Chicago have adopted strategies ranging from participating in master development projects to managing the renovation of a local movie theater.
More at Slate
All news on NetAssets.org
Related on NetAssets.org: Leveraging the Land
Listen to the latest episode of the Net Assets podcast.
