Elsewhere online
January 09, 2015

Developer Gives MIT $118-Million for Sustainability Lab

Hong Kong property mogul Samuel Tak Lee has donated $118-million to the Massachusetts Institute of Technology to establish a laboratory for the study of sustainable real-estate development, Bloomberg and The Boston Globe write. The new year's first nine-figure gift funds fellowships for U.S. and international students and support research on development, urbanization, the environment, and related issues.

The Samuel Tak Lee MIT Real Estate Entrepreneurship Lab will be housed in the school's Department of Urban Studies and Planning and the Center for Real Estate. Mr. Lee earned bachelor's and master's degrees at the Cambridge, Mass., campus in the 1960s before joining Prudential Enterprise, his family's Hong Kong-based real estate firm.