RIT Embarks on Million-Dollar Project for Alumni Use
by Nathan J. Lichtenstein | published Nov. 2nd, 2015
In an October 8 press release through University News, RIT officially unveiled Alumni House, a property located at 3018 East River Road right behind the Red Barn climbing gym. The approximately 5,000 square foot home sits on about 0.55 acres of land and does not stand out to the passerby driving down East River Road.
It currently features 5 bedrooms, 3 full bathrooms and a 22-by-40 foot in-ground swimming pool. Monroe County records indicate that the institute purchased the property for $342,500 in late November 2013, and closed on the property in late December of the same year.
Per Kelly Redder, Assistant Vice President of RIT for Life and Director of RIT Alumni House, the nearly $350,000 cost of the property was paid for with tuition dollars, but the remainder of the cost will come through fundraising. "I don't want to use any tuition dollars whatsoever to support an alumni house," instead the goal will be to raise money through donations to support the $1,500,000 dollar renovation. Redder stated that she hopes to repay the institute for the initial purchase cost of the property.
The priciest donation bracket rings in at $3,000,000 which entitles the donor to naming rights for the building. Ultimately, Redder wants to grow the endowment fund to a point where interest on the principal amount will be enough to support the operation of Alumni House.
Redder has worked with a multidisciplinary team of students to make this house a reality. From architecture to interior design and hospitality, the design of Alumni House has been a team effort. RIT plans to turn the property from a traditional residence into a multipurpose space for graduates of the institute. The list of amenities includes a library, boardroom, business center, event space and two sleeping suites for alumni and RIT VIP's. The house is slated to begin renovations this spring and open in early 2017.
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