Cornerstone Communities Donates $100,000
To SDSU Real Estate Program

Contact: Randy Carmical
SDSU College of Business Administration
Tel: (619) 594-0206
rcarmica@mail.sdsu.edu

SAN DIEGO – (Thursday, Jan. 5, 2006) – San Diego State University’s (SDSU) College of Business Administration announced today that its Real Estate Program is the recipient of a $100,000 pledge from local real estate developer Ure Kretowicz of Cornerstone Communities. The gift will go toward attracting and retaining high quality faculty in the Real Estate Program.

“Donations like this are essential to bringing the Real Estate Program to its fullest potential,” said Gail Naughton, dean of the university’s College of Business Administration. “As the program continues to grow and improve, so will the quality of education our students receive, continuing the college’s standard of excellence and reputation as one of San Diego’s leaders in education.”

For more than 40 years, the college has been educating students in a program that includes Southern California’s leading comprehensive undergraduate real estate degree. The vision is to create a “ready-day-one” program for students who aspire to become leaders within the industry. This includes: 1) a restructured curriculum to prepare students for today’s and tomorrow’s employment opportunities; and 2) an expanded research component that analyzes emerging trends and provides thoughtful leadership on real estate matters of community importance.

Chairman of the Board and CEO of Cornerstone Communities Ure Kretowicz said, “It has been said that 'To acquire knowledge one must study.... to acquire wisdom one must observe.' Understanding the important balance of study with observation, Dianne and I, on behalf of Cornerstone Communities, are committed to improving San Diego's living environment through the creation of well-planned neighborhood and housing alternatives. With that commitment comes the responsibility to support the knowledge base of our young entrepreneurs who may enter our industry's talent pool. Cornerstone is pleased to provide a portion of the sponsorship necessary for San Diego State University's Real Estate Program to answer that challenge.”

Cornerstone Communities covers the full spectrum of the homebuilding field. With homes throughout California, its commitment to customer warranty, innovative product design, and fiscal efficiency has made Cornerstone a leader in California’s residential industry. Supporting community activities designed to bring back neighborhood pride, it is committed to only building the best.

Several corporate partners have made substantial contributions recently to the real estate program bringing the total gifts since November 2004 to $1.9 million. Contributors include The Corky McMillin Companies, Grubb & Ellis/BRE Commercial, the Warwick family, Stephen and Michele Coslik and Barratt American, Inc.

SDSU also recently announced the appointment of Dr. Peter Chinloy as the endowed chair of the Real Estate Program. Chinloy, who begins at SDSU in fall 2006, is considered a preeminent scholar in the fields of real estate finance and development and is currently the Chair of the Finance and Real Estate Department at American University’s Kogod School of Business in Washington, D.C. as well as the Realtor Chair Professor and Homer Hoyt Faculty Fellow.

Chinloy has published a number of books in both management and real estate, including "The Cost of Doing Business and Labor Productivity" and "Real Estate Investment and Financial Strategy." He has also published over 50 refereed articles in publications such as Real Estate Economics, Journal of Real Estate Finance and Economics, and American Economic Review, and is a member of the Editorial Board for Real Estate Economics, Journal of Real Estate Finance and Economics, and Journal of Real Estate Literature.

Chinloy received his undergraduate degree in accounting and economics from McGill University and his master’s and doctoral degrees from Harvard University. His knowledge and expertise in the fields of mortgage finance, commercial real estate, and equity structuring in real estate will greatly enhance SDSU’s Real Estate Program.

With more than 5,500 students, the SDSU College of Business is one of the largest business schools in the U.S. Its programs in undergraduate international business and graduate entrepreneurship are ranked among the top programs in the country by U.S. News and World Report. This year, the college is celebrating “50 Years of Educating San Diego’s Business Leaders.”

SDSU is the oldest and largest institution of higher education in the San Diego region. Founded in 1897, SDSU offers bachelor’s degrees in 81 areas, master’s degrees in 72 and doctorates in 16. SDSU’s nearly 33,000 students participate in academic curricula distinguished by direct faculty contact and an increasingly international emphasis that prepares them for a global future. For more information, visit www.sdsu.edu.

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