Charlotte-based real estate developer Peter Pappas is giving $10 million to NC State University, his alma mater, for the creation of a real estate development program.
According to Business North Carolina, the new Peter A. Pappas Real Estate Development Program will concentrate on land-use, transportation and open-space planning. The university’s College of Design will anchor the effort, with the College of Engineering, College of Natural Resources and Poole College of Management serving as academic partners and the Office of the Executive Vice Chancellor and Provost leading the program.
Pappas founded Pappas Properties in 1999 and is responsible for developing more than 3 million square feet of retail, office and residential in the Charlotte metro area.
“As North Carolina continues to experience growth, real estate development will play a unique role by adding value through community building and place-making,” said Mark Hoversten, dean of the College of Design. “We appreciate Peter Pappas’ vision and support as we engage these issues throughout the state.”
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What a wonderful new program.
Mr. Pappas must be a true visionary for the real estate industry and I applaud his dedication!