NAICU - Colleges buy land they don't know how they'll use

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Colleges buy land they don't know how they'll use

Associated Press

September 6, 2010

Colleges and universities are buying up chunks of land at bargain prices, sometimes without a clear idea how they'll be used. Some are taking advantage of good sales during a sluggish economy, while others, like Columbia University, are continuing a practice they've done for decades, buying even if the price isn't discounted. The schools are banking on future growth to make their purchases good investments. In the interim, many are leasing the properties they're not using until they need them.

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