Arizona State University (ASU)'s W.P. Carey School of Business in Tempe has announced a $25 million grant from the W.P. Carey Foundation to bolster the namesake school’s real estate programs.

The foundation’s investment will help expand the scope of the renamed W.P. Carey Center for Real Estate and Finance, which will include an experiential learning lab devoted to real estate and the launch of an undergraduate real estate degree program in the fall of 2025. In addition, the funds will be used to attract leading faculty who specialize in real estate research and practice. The latest grant boosts the foundation’s giving at ASU to more than $100 million.

“For decades, the real estate industry has been a central component to the economic development engine that drives Arizona, and that will continue to be central to our progress as the state and its economy mature in the years ahead,” said ASU president Michael M. Crow. “[The gift] will help ASU expand its programs within the W.P. Carey School of Business, [which] serves not only the practitioners of real estate, but also those who rely upon these professionals.”

“As a key driver of the global economy, real estate has a significant impact on the lives of Americans and should be a focal point for academic research and education,” said W.P. Carey Foundation chair William P. Carey II. “By empowering students with essential knowledge, skills, and professional networks, we aim to inspire and prepare the next generation of leaders in the real estate and finance industries.”

(Photo credit: Wikimedia/Nick Schweitzer)