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Colleges Tightening Bonds With Cities

<p>Universities are embracing their interrelationships with their cities, sparking a flurry of university-led urban development projects.</p>
February 28, 2008, 1pm PST | Nate Berg
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"Universities, increasingly, are extending their reach to off-campus development in an effort to give their surrounding areas and town centers a vibrant and modern feel. In the process, they are becoming major drivers of economic development after concluding that their fortunes are directly tied to those of their cities."

"Another reason for the push is that institutions are recognizing that, along with lucrative financial packages and strong academic reputations, they need to have attractive and exciting college towns to lure top faculty and students."

"The University of Maryland in College Park is converting a 38-acre tract of industrial development on its campus into a shopping district with a hotel, theaters and a music center to further spur redevelopment along a depressed stretch of U.S. Route 1, the town's main thoroughfare."

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Published on Wednesday, February 27, 2008 in The Wall Street Journal
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