MIT Plans Economics Building
Sahin’s $20 Million To Fund New CenterBy Brian Loux
Twenty million dollars of the donation by MIT alumnus Kenan E. Sahin ’63 will go towards the construction of a new space for the Department of Economics.
“The new donation was brightly welcomed by the Department of Economics and the Sloan Community,” said Cindy Hill, the current Director of Education at the Sloan School of Management.
Planning and development has already begun on the new building, which will hold both the Department of Economics and new space for the Sloan School of Management. The concept of a new building was jump-started a year ago, after E*Trade founder William A. Porter ’67 donated $25 million to the Sloan School last November.
This additional funding will provide for a section of the new building devoted entirely to Economics. “We have a long history of close involvement, and we’re very pleased that our involvement will continue,” Hill said.
Both faculty and students of the Department of Economics and the Sloan School of Management hope that the close proximity of the two schools will foster increased collaboration.
With the Sloan School currently consisting of eight buildings scattered about MIT’s campus, the new building will solve a proximity problem. “The initial plan for the new building was to bring all pieces of the Sloan school closer together and create a greater sense of community,” Hill said. “With eight separate buildings, we were not able to build a strong sense of community. The new building should remedy this.”
The new Porter building will most likely become the central building for the entire Sloan School of Management. However, the design team has not yet figured out how to accomplish this, as it would not be feasible to link all eight buildings to the new Porter building. “We are not looking at one building; we are looking at a campus,” Hill said.
The Sloan School of Management hired Jim Davies of ARC design company over the summer to create the master plan for the Porter Building. However, Mr. Davies was unavailable for comment.
Though there is neither a finalized plan or a timetable for construction as of yet, the Sloan School of Management plans to hire a design architect in the near future.
Sloan will receive more than just building funds from Sahin’s donation. Twenty four million dollars will be used to set up a Presidential Graduate Fellowship Fund which will aid Sloan graduate students.