Cornell University has announced a $30 million commitment from alumnus Paul Rubacha (’72, MBA ’73) to create a multi-college department of real estate. 

The gift includes $25 million to establish the Paul Rubacha Department of Real Estate and $5 million to incentivize others to contribute through a matching fund challenge. The new department aims to boost recruitment of faculty around signature themes and emerging priorities, which in turn is expected to help develop cross-disciplinary ideas, research, and networks and more adaptive programs that respond to emerging industry needs and student interests, administrators said.

Managed by the College of Architecture, Art, and Planning (AAP) and the SC Johnson College of Business, the department will expand the existing Baker Program in Real Estate, which incorporates finance, development, and the built environment. Already jointly administered by the SC Johnson College and AAP, the Baker Program will serve as the new department’s primary professional master’s degree-granting program. 

“Formally combining these disciplines will create a thoughtful real-estate education unlike any other program in the country–one that’s as focused on design and development as it is on the balance sheet,” said university provost Michael I. Kotlikoff. “Combining faculty and staff expertise from the SC Johnson College of Business and the College of Architecture, Art and Planning will elevate Cornell’s existing array of real estate education, research and outreach.” 

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