The trend for universities to use their excess land for profitable real estate ventures in conjunction with private developers and builders is considered. One of the first institutions to embark on development was the University of Washington, Seattle, and one of the best known examples of university-sponsored development is Stanford University, which owns the Stanford Industrial Park and a shopping center. Most universities that are pursuing property development view it as a means of enriching research, cultural resources, and community ties in addition to providing financial rewards. However, the strongest interest of universities is in the establishment of research parks that will attract research activities of interest to faculty and students. In approaching development, private universities appear to have less difficulty than public ones, which must deal with political problems and the matter of management responsibility. The experience of the University of Wisconsin, Madison, which held several acres of farm land, is illustrative of an approach to planning land development. It is important that the university formulate an overall strategy that defines primary and secondary objectives for land development. (SW)