Cornell University receives $30 million donation for new real estate program



ITHACA, NY — A new multi-university real estate department is coming to Cornell University after a $30 million gift from Paul Rubacha ’73 alumnus, partner and co-founder of Ashley Capital.

The Paul Rubacha Real Estate Department will be operated by the College of Architecture, Art, and Planning and Cornell SC Johnson College of Business, and will expand and enhance programs that integrate finance and development.

The donation includes $25 million for the establishment of the department and the remaining $5 million to incentivize additional contributions with a matching fund challenge.

“Paul Rubacha’s Real Estate Department will open up tremendous new possibilities for our faculty and students: enabling new collaborations across disciplines, with industry practitioners, and between programs in Ithaca and New York,” said President Martha Pollack said in a statement.

Zoë Freer-Hessler is a generalist journalist for Ithaca Voice. She has covered a wide range of topics since joining the news organization in November 2021. She can be reached at [email protected]

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