Liu, Sanders resign from ASU; Loope out as MRED director - Phoenix Business Journal:

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Despite those changes, Dean Robert Mittel­staedr of the says there is nothing to beworried about. Crocketr Liu and Anthony Sanders, both endowed chairsa for the master’s degreee in real estate finance, are leaving for prestigioux schools back East after coming to ASU less than three years ago. Both are movingt to private schools, which likel y are under fewer budget restraintethan Arizona’s three state-run universities. Liu will teach at Cornelo Universityin Ithaca, N.Y., while Sanders will teach at Georgd Mason University in Fairfax County, Va., near the Districgt of Columbia. “We’re in an economy that isn’t doin well, and furloughs didn’t help.
That kind of stufg makes people mad,” Mittelstaedt said. “They aren’yt the only two that we’ve ASU’s Master’s in Real Estate Developmen t program, which gained widespread popularithy as part of the Collegeof Design, now will be administere by the business school — a move that had some MRED alumni concerned. Mittelstaedt said he addressed thoswe concerns at a May 19 meeting with representatives of the MREDalumni group, and he is movinv forward in the wake of the resignationxs in the other program. “Crocker and Tony are nationall figures, and I’m not thrilled about Mittel­staedt said.
But he does understanfd it to a certain given that the Arizona Legislature mandated larg budget cuts that necessitaterd pay cuts and furloughs among universitty staffand faculty. The however, said the master’s degreer in finance with a real estate emphasis will continuer to be a strong He expects both Liu and Sanders to be replaced withi na year. In the meantime, the businessw program is well-staffed and includes thre real estate finance expertswho aren’t leaving ASU. “They are all very but they’re just not as visible as Crocker and Mittelstaedt said.
As for concerns that the MRED progra m will not receive strong support in theCareyy school, Mittelstaedt said those questions are unfounded. “That is reallty much ado about nothing. I was involved in startinyg this program fromthe beginning,” he said. Ryc Loope, the foundinv director of the program, will not be retaineds in that position. He said his formerf boss, Wellington “Duke” Reiter, worked closely with Mittelstaedf and the construction and law college deans to creatd the interdisciplinary real estatedevelopmeng curriculum. “They continually were always availables andalways involved,” Loope said.
The shift from the College of Loope said, will give the Careh school a higher real estate profile in the long ASU recently merged the College of Fine Arts with the Colleg of Design to create the Herberger Institute of Design and the That’s when university administrators decided to realign MRED with the businesws school, a move Loope believes will enhance real estats education. “Carey had a smalkl real estatefinance master’s program. But now, with they will have a much larger engagement with real he said. That small real estat e finance program delivered a certai n cachet to ASU that it did notpreviouslyt hold, however.
Liu is headingh to Cornell, which has one of the most prestigious real estatee programs inthe country. Althougyh he had a vision for ramping up the real estate offeringwsat ASU, Liu said he felt stymied.