UW considers ‘Innovation Zones’

The University of Wisconsin–Madison is eyeing real estate developments as a new potential revenue source, according to a Wisconsin State Journal report. UW officials are considering potentially redeveloping spaces in a way that benefits the campus and also establishes a sustainable revenue stream. The UW Board of Regents approved an agreement allowing UW–Madison to sell its land to University Research Park, which would in turn lease the land to developers to build housing, retail, or commercial space. The revenue from rent would be earmarked for an endowment, and UW–Madison would receive a percentage of that each year for university operations. The university is taking a close look at its existing real estate and considering future developments.