Real Estate Association students tour World Trade Center site in New York City

In April, about 10 Penn State Real Estate Association students visited Silverstein Properties Inc. headquarters in New York City and toured the World Trade Center site. The students were invited by University alumnus Jonathan W. Knipe, senior vice president and general counsel for Silverstein Properties and member of the Smeal College of Business Institute for Real Estate Studies advisory board.

The students started their day at Silverstein Properties’ marketing department in the World Trade Center (WTC) Tower 7, where they learned more about the company’s progress and future plans for the WTC site.

Renowned construction manager Malcolm Williams led the site tour of WTC Tower 4, which will be a major commercial office space when complete, as well as the future Transportation Hub. The hub will include extensive retail and restaurant space. Throughout the tour, Williams provided students with insight on the complex commercial construction process.

After the site tour, students heard from a panel of Silverstein Properties’ senior executives, representing the company’s legal, asset management, acquisitions and development, and construction departments.

“It was an incredible privilege to be able to tour the World Trade Center site,” said Real Estate Association President Henry Fox, a rising senior pursuing real estate in the department of risk management.

Fox said that the highlight of the day for him was talking to various industry professionals and finding out more about their day-to-day jobs.

“The whole day was a real eye-opener to the industry itself,” he said. “We were able to hear about different facets of the industry we weren’t already familiar with and think a bit more about where we want to head after we graduate.”

The day closed with a tour of the 9/11 Memorial.

“Seeing the memorial gave us a chance to reflect on the significance of the new World Trade Center and what it means not only for commercial office space but also for the city of New York,” Fox said.

The Real Estate Association, with about 20 active members, serves as a forum for students of all majors to discuss real estate, trends in the market and more. The trip was supported by the Institute for Real Estate Studies, a research center dedicated to fostering discussion and research between academicians and business professionals in the area of real estate and providing a focal point for Penn State Real Estate education.