Led by Rice alumnus Don Dennis, Wiess ‘81, the Rice Real Estate team operates with a twofold mission:
- Plan and develop properties for the University's growth needs.
- Generate long-term value through strategic development and asset management.
The University strategically acquires properties as part of its growth and investment strategy. These holdings extend beyond the boundaries of the main campus, with two iconic properties - Rice Village and the Ion District. These properties contribute to the University's financial sustainability and provide valuable resources for the academic community and the broader public.
Rice Village, located adjacent to the campus, is a vibrant mixed-use development that offers a diverse array of dining, shopping, and entertainment to the Rice community and the surrounding neighborhoods. In addition to its permanent establishments, the shopping district hosts temporary pop-up shops for well-known brands and a farmers market that occurs twice a month.
The Ion District, situated in the heart of Houston's innovation corridor, is a dynamic hub that fosters collaboration and entrepreneurship, catalyzing technological advancements and startup incubation. The University utilizes the space to host design competitions and conferences focusing on innovation and excellence, such as AI-powered renewable energy, neuro-engineering interfaces, and design competitions featuring the work of Rice undergraduate students. The Ion is open to all, from start-ups to Fortune 500 companies seeking flexible office spaces. It’s a space for creative and inventive people to gather and create a better quality of life for all of Houston.
Beyond facilitating growth, the Real Estate office focuses on creating long-term value for the university. By leveraging market trends and diversifying assets, the team increases the income generated from the real estate portfolio. This income helps sustain the university's operations and provides funding for scholarships, research grants, and other initiatives that enrich the educational experience at Rice.