NJCuse97
Once Thought to be Taylor Ham Campanile Prophet
- Joined
- Nov 21, 2014
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Landlord, property owner with controlling ground lease to developers, ability to set not just prices, but program/tenants. If you look at what may be the most successful examples of this, look no further than NYU, Columbia, or perhaps the best example, MIT. Drexel is doing this sort of thing in the hottest growing research market in the NE, uCity Philadelphia. MIT owns most of the land under all the corporate research facilities in Cambridge and collects on ground leases. They can mandate parking requirements, bike storage, and retail needs. MITIMCO is their real estate arm. As with them and Drexel, very few of these buildings are for their direct use, just collecting rent and building local industry to support their enrollment and graduate placement. Cooper Union in NYC owns the land that the Chrysler Building sits on and until recently offered a heavily subsidized (pretty much free) education to all who could get in (making it pretty selective). I know that M Street is a far cry from Cambridge or Manhattan, but most private universities are major land-holders and most buy like crazy when the economy is weak.