Analyzing the private development model for university real estate development

Universities within the Unites States have long been active in the real estate development market surrounding their respective campuses. However, beginning with the baby boom in the late 1950s, colleges have begun expanding their campuses at ever increasing rates to account for the influx of new students. In order to accommodate this increased need for campus expansion, universities have begun to look increasingly to private development firms as a means to facilitate the development of university real estate product. As these development partnerships between the institution and the private sector become more widespread, in what ways can private firms provide a benefit to the university by building facilities that utilize private market efficiencies of design and construction. The question will be answered by studying three cases of university - private sector development: Harvard University, The University of Pennsylvania, and the Massachusetts Institute of Technology. By focusing on two types of real estate product in particular, student housing and laboratory space, the case studies will compare product developed privately for each university to product developed by the university's internal facilities department. Financial, construction, and design metrics of privately and university developed products will be compared and contrasted to determine where and how private, market influence might provide the university with an advantage in developing real estate.

Department dc:contributor.department

Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development.

Grantor dc:publisher

Massachusetts Institute of Technology

Year dc:date.issued

2009

Author dc:creator

• Gerrity, James F., IV (James Francis)

Advisor dc:contributor.advisor

• Dennis Frenchman.

• Center for Real Estate. Program in Real Estate Development.

Statement dc:rights

• M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.

Licence dc:rights.uri

• http://dspace.mit.edu/handle/1721.1/7582

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/1721.1/55164

OAI identifier oai:identifier

oai:dspace.mit.edu:1721.1/55164