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Classrooms are the New Condos

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The land baron benefiting the most from the recession's impact on property values is the School Construction Authority, the NYT reports. The S.C.A. has built a record 26 new facilities this year and construction companies are begging to get a piece of their action. Said the agency's prez: "The downturn in the real estate market has afforded us some new opportunities, including residential developments that stalled and are now available for us to acquire." Meanwhile, the WSJ looks at how universities are getting in on the fun as well. Training the leaders of tomorrow with the wise real estate purchases of today! [NYT; WSJ]