Weidner investments donates $1 million: the University of Alaska Anchorage offers new real estate and property management program.

The University of Alaska Anchorage campus, through the auspices of the College of Business & Public Policy, is in the midst of a proposal for a new bachelor program emphasis in real estate and property management within the finance degree.

Students will be able to take nine hours of real estate courses. This new elective in a four-year degree program will give students an extra edge in real estate and property management. Some new classes in real estate are already scheduled to start in the spring semester.

Local banks, land title companies, and project management fields all have expressed an interest in the need for such a program.

A LOOK ELSEWHERE

Suresh Srivastava, professor of finance, designed the proposed program after looking at 30 universities, including Florida International, New York University, Texas A&M, University of Denver, University of Memphis, and Northwestern University. These universities all have a large population base so it is feasible to have a master's program for continuing students; smaller cities only offer the undergraduate program. But Srivastava foresees the local program could be expanded in the future.

Srivastava also attended a conference in Salt Lake on the topic of finance. Ed Forrest, associate dean, department chair, and MBA director, worked hand-in-hand with Srivastava in designing the program.

A need has been expressed for this program because there is currently a nationwide shortage of business degrees.

Srivastava says very few programs in the country offer a Ph.D. program in this field, but many universities offer it as a part of the finance degree.

As many as 80 well-known colleges and universities have degrees in real estate today while most institutions have at least a real estate course or two.

MONEY MATTERS

The yearly Real Estate Employment Report released by the Lusk Center indicates that for 2005, the University of Southern California (USC) master's-level graduates employed in the field of real estate brokerage, construction or law reported average annual salaries of $120,000, plus annual bonuses.

"Dean Weidner of Weidner Investments from Seattle approached us," says Thomas R. Case, dean of the College of Business & Public Policy. Weidner wanted to regenerate the program from the past with a real estate property tract within the finance degree. The sector of the economy is growing; more job possibilities exist today. A profession with significant employment opportunities exists from a work force development prospective. Working in such a field today takes education and training experience.