Money makes the world go round

And Yale’s world is spinning faster than ever, according to the New York Times:

Yale University is rebuilding itself — drawing on its huge, rapidly growing endowment and on multimillion-dollar gifts, mainly from alumni — to renovate 54 buildings and construct 16 new ones. Not since the 1930s has Yale undertaken so ambitious an expansion.

A lot of us complain that Middletown lacks things to do, and places to go. Well, with a few more billions in the bank, maybe Wesleyan could afford to copy Yale, and buy a chunk of downtown wholesale:

Propelled by the construction, Yale has become a big owner of commercial real estate in the surrounding downtown, engaging in a form of urban renewal not unlike what Mayor DeStefano [of New Haven] wants for Route 34. But while the mayor has to extract state and federal subsidies, Yale goes forward with its own money.

Biotech start-ups, restaurants and stores now occupy Yale-owned buildings. Wanting its new campus in upscale surroundings, the university even employs two people full time to recruit boutique retailers in New York and Boston as tenants on spruced-up streets.

What can we take from this article, you ask?

  1. Yale is filthy rich.
  2. By the time we get our swanky new science center built, they’ll have probably finished constructing their 16 new buildings.
  3. Here’s to Roth’s plan to double our endowment during his presidency! It’s an ambitious goal, but one which will hopefully allow us to bring in more low-income students, hire more professors, and build new facilities.
  4. Michael Roth looks totally badass here:

EDIT: Replaced SuperRoth with a better version.

26 thoughts on “Money makes the world go round

  1. Anonymous

    All of Yale’s newly acquired “commercial real estate in the surrounding downtown” can’t be taxed. Which means New Haven will have even less money for urban renewal in the future. And judging by this article New Haven doesn’t have all that much to begin with.Yale’s “urban renewal” is really just aggressive corporate expansion given the gloss of philanthropy by a sycophantic corporate press. Given that most of the people displaced by Yale’s expansion project are minorities, you could even call this ethnic cleansing.Yeah, I can’t wait till this happens in Middletown. That way we can spend the four years of our college education without ever encountering people who don’t have enough money to attend Wesleyan. God, who would want to be reminded that they exist?

  2. Anonymous

    All of Yale’s newly acquired “commercial real estate in the surrounding downtown” can’t be taxed.

    Which means New Haven will have even less money for urban renewal in the future. And judging by this article New Haven doesn’t have all that much to begin with.

    Yale’s “urban renewal” is really just aggressive corporate expansion given the gloss of philanthropy by a sycophantic corporate press. Given that most of the people displaced by Yale’s expansion project are minorities, you could even call this ethnic cleansing.

    Yeah, I can’t wait till this happens in Middletown. That way we can spend the four years of our college education without ever encountering people who don’t have enough money to attend Wesleyan. God, who would want to be reminded that they exist?

  3. Anonymous

    considering his daughter goes (or went to Wesleyan), you’d think David Swenson would pool some of that money over here.

  4. Anonymous

    considering his daughter goes (or went to Wesleyan), you’d think David Swenson would pool some of that money over here.

  5. meesh

    this post actually made me realize that wesleyan’s NOT as bad as it could be. yale’s urban renewal shit in new haven is disgusting. institutionalized gentrification to the power of 50k.what the fuck is the world coming to? why don’t we just put all the poor people in a box and send them to a different country? i mean, it’s their fault free market capitalism didn’t work for them here.that would clean up new haven real fast.let’s take advantage of eminent domain while it’s still deemed constitutional!

  6. meesh

    this post actually made me realize that wesleyan’s NOT as bad as it could be.
    yale’s urban renewal shit in new haven is disgusting. institutionalized gentrification to the power of 50k.
    what the fuck is the world coming to?

    why don’t we just put all the poor people in a box and send them to a different country? i mean, it’s their fault free market capitalism didn’t work for them here.
    that would clean up new haven real fast.
    let’s take advantage of eminent domain while it’s still deemed constitutional!

  7. Justin

    My tags are fearless and very well-endowed.SuperRoth may show up at times appropriate in the future. You haven’t seen the end of him yet.

  8. Justin

    My tags are fearless and very well-endowed.

    SuperRoth may show up at times appropriate in the future. You haven’t seen the end of him yet.

  9. Anonymous

    justin, your tags still suck, you’re making it hard to re-find this post if i ever want to see mike roth in superman form.

  10. Anonymous

    justin, your tags still suck, you’re making it hard to re-find this post if i ever want to see mike roth in superman form.

  11. Anonymous

    So…what you’re saying re: the boutiques, etc. is, they’re paying to gentrify the city?why do we want to be like them?

  12. Anonymous

    So…what you’re saying re: the boutiques, etc. is, they’re paying to gentrify the city?

    why do we want to be like them?

  13. Anonymous

    the funny thing is I actually have like an inferiority complex regarding other school’s endowments and this made me feel like pretty bad…lol. fuck yale!

  14. Anonymous

    the funny thing is I actually have like an inferiority complex regarding other school’s endowments and this made me feel like pretty bad…lol. fuck yale!

  15. LauraAlyse

    Justin, I am frustrated by the slew of posts comparing Wes to other schools, but I commend you for your work at this photoshopped picture. Or is it?

  16. LauraAlyse

    Justin, I am frustrated by the slew of posts comparing Wes to other schools, but I commend you for your work at this photoshopped picture. Or is it?

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