$118M gift from MIT alumnus will advance socially responsible and sustainable real estate development
MIT has received one of the largest gifts in its history, from alumnus Samuel Tak Lee ’62, SM ’64, to establish a real estate entrepreneurship lab that will promote social responsibility among entrepreneurs and academics in the real estate profession worldwide, with a particular focus on China. The gift will fund fellowships to attract both U.S. and international students; will support research on sustainable real estate development and global urbanization; and will make the lab’s curriculum available online to learners worldwide via MITx. The $118 million gift was formalized yesterday at a signing ceremony at MIT, attended by Lee; his son, Samathur Li; MIT President L. Rafael Reif; Executive Vice President and Treasurer Israel Ruiz; Chancellor for Academic Advancement Eric Grimson; and Vice President for Resource Development Julie Lucas. In recognition of Lee’s substantial and ongoing commitment to the Institute, Building 9, home to the MIT Center for Real Estate, will...