ITHACA, N.Y.—A new, multi-college department of real estate is coming to Cornell University after a $30 million gift from alum Paul Rubacha ’73, partner and co-founder at Ashley Capital.

The Paul Rubacha Department of Real Estate will be managed by the College of Architecture, Art and Planning and the Cornell SC Johnson College of Business, and will expand and enhance programs that integrate finance and development.

The gift includes $25 million for establishing the department and the remaining $5 million for incentivizing additional contributions with a matching funds challenge.

“The Paul Rubacha Department of Real Estate will open tremendous new possibilities for our faculty and students: enabling new collaborations across disciplines, with industry practitioners, and between programs in Ithaca and New York City,” President Martha Pollack said in a statement.

Zoë Freer-Hessler is the digital editor/reporter for the Ithaca Voice. Joining in November 2021, she has covered a wide range of topics related to local news. She can be reached at,...