Sunday, June 16, 2024

Charlotte developer Pappas giving $10 million to NC State

Prominent Charlotte real estate developer Peter Pappas is giving $10 million to NC State University, his alma mater, to launch a real estate development program.

The Peter A. Pappas Real Estate Development Program will focus on land-use, transportation and open-space planning. This builds upon and formalizes the work undertaken by the Initiative for Community Growth, directed by Chuck Flink, fellow of the American Society of Landscape Architects, and housed at the College of Design.

The four initial courses offered under the Initiative for Community Growth enrolled more than 70 students across five colleges, demonstrating a demand for real estate development education.

This spring, NC State students had the opportunity to begin enrolling in a City Design Certificate program, with a focus on real estate development. These two academic elements will become part of the Pappas Real Estate Development Program.

One focus of the program will be place-making, which is the act of creating public spaces that attract people and strengthen their connections to community and each other.

“As North Carolina continues to experience growth, real estate development will play a unique role by adding value through community building and place-making. We appreciate Peter Pappas’ vision and support as we engage these issues throughout the state,” said Mark Hoversten, dean of the College of Design.

The College of Design will anchor the effort, with the College of Engineering, College of Natural Resources and Poole College of Management all serving as academic partners and the Office of the Executive Vice Chancellor and Provost leading the program.

Pappas founded Pappas Properties in 1999 after seven years as partner at The Harris Group. He led development and marketing for major projects including Phillips Place, a walkable mixed-use destination; Ballantyne, a 2,000-acre mixed-use community; Morrocroft, a 178-acre multi-use project; and 330 South Tryon.

He has developed over 3-million square feet of retail, office and residential in some of Charlotte’s most popular mixed use developments including Metropolitan in Midtown Charlotte, Sharon Square in SouthPark and Berewick Master Planned Community in Steele Creek.

He holds a degree in business management and economics from NC State.

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