News
MIT: $3 Billion in Development
May 17, 2011
| MIT isn't done. After recently completing a $1.4B, 10-year on-campus development plan, it sold $750M in bonds on Wednesday to help finance about $1.5B in development of on-campus facilities through 2020 pending the success of additional fundraising. It plans another $1.5B in off-campus RE investments on MIT-owned property (funded separately) when market conditions are appropriate. What that word means . . . we're not sure, but we're banking on either a full moon or students staying awake through lecture hall. |
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| And you thought your spouse had to grow up? The Series B Taxable Revenue Bonds that MIT is using won't mature until 2111; gifts and internal funding sources will also be used to support campus renewal, new infrastructure, and strategic academic research facilities. Real estate projects involving MIT's Lincoln Lab also will be financed separately. |
