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?
- Yale is filthy rich.
- By the time we get our swanky new science center built, they’ll have probably finished constructing their 16 new buildings.
- 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.
- Michael Roth looks totally badass here: