RPI recently purchased Proctor’s Theatre in downtown Troy and plans to turn this historic landmark into a high-end hotel. The purchase was made as part of the Communiversity initiative outlined in The Rensselaer Plan. The purpose of purchasing the hotel is to aid in the revitalization of downtown Troy. However, we are concerned that this is not the best use of RPI’s money.
The effort to revitalize downtown Troy is a worthy goal, especially since students call this city home for the four years they are studying here. However, the primary reason that students are living in Troy is for RPI’s academic programs, not Troy’s nightlife. As such, meeting goals of the academic departments and students on campus should be the first priority when deciding on how to allocate funds.
During the budgeting for the 2005 fiscal year, academic departments on campus were forced to cut their budgets. Furthermore, financial aid is also being reduced. It is likely that New York’s Tuition Assistance Program is going to be cut by 33 percent. This loss of funding will affect all students at RPI receiving financial aid. The money available to pay work study students has also decreased. In times where programs that are vital to students are being cut, it may be best to address the needs of RPI before developing downtown Troy.
If areas around Troy are going to be revitalized, the off-campus locations that students visit most should be focused on. Most students living off-campus reside north and south of the main campus, not downtown. It is important to give back to the Troy community, and RPI has been doing that with its Communiversity initiative. However, the school should make sure that its students’ needs are fully met before purchases like Proctor’s Theatre are made.
