More Than Just Real Estate

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Institutional developments reach beyond their walls to catalyze urban communities.

Commercial real estate communities built around colleges and universities, hospitals and medical research institutions rightly are hailed for supporting large numbers of jobs, many that pay exceedingly well. They drive critical medical research, and they support the commercialization of life-saving cures. A perhaps under-appreciated bonus comes in the ways that Eds & Meds developments can serve to enrich urban ecosystems, including the under-utilized, undervalued and forgotten.

South Street Landing in Providence, Rhode Island, is a modest but spritely example. Its transition from abandoned power plant to sleek, medical education hub recently claimed a prestigious award for adaptive re-use from the National Trust for Historic Preservation. Inside 266,000 sq. ft. (24,715 sq. m.), South Street Landing houses the Nursing Education Center — an initiative between Rhode Island College and the University of Rhode Island’s nursing programs — as well as hundreds of Brown University administrators.

Read more at Site Selection Magazine.