The University of Southern California has announced a $10 million gift from alumnus Wil Smith to the Sol Price School of Public Policy in support of the school's Department of Real Estate Development.

The gift to name the Wilbur H. Smith III Department of Real Estate will fund scholarships for undergraduate and graduate students in real estate based on merit and need, new professional development opportunities for students, and a faculty research fund.

A 1999 graduate of the master's program in real estate development, Smith is the founder and principal of Greenlaw Partners, a Southern California-based real estate firm with holdings across the United States, and serves on the executive committee of the USC Lusk Center for Real Estate, the USC Price Board of Councilors, and the USC Price School Real Estate Advisory Board.

"This generous gift will help us with our efforts to attract top scholars and hire outstanding researchers in real estate development," said USC president Carol L. Folt. "We are thankful to Wil Smith for his philanthropic support and his longstanding involvement with the university. He has been a terrific mentor to USC Price students, and he has given so much of his time to help them learn, grow, and realize their dreams."