UNIVERSITY PARK, Pa. — The Penn State Cocoziello Institute of Real Estate Innovation held its inaugural Impact and Insights Reception at One Vanderbilt in Manhattan on Nov. 6. The event brought together Penn State alumni, faculty and influential figures from the real estate and financial sectors in New York's tri-state area. Presentations and conversations centered on the latest challenges and innovative solutions shaping the future of real estate.
Founded with a philanthropic gift by Peter and Sharon Cocoziello in 2022, the Cocoziello Institute is dedicated to advancing the real estate industry through cross-disciplinary collaboration and education. Connecting industry experts with Penn State’s faculty and students, the institute strives to identify and develop novel solutions that improve the built environment, enhance the well-being of its occupants, and support sustainable development.
“The Impact and Insights Reception at One Vanderbilt focused on the challenges and future of real estate in the New York City and tri-state area and showcased the importance of interdisciplinary collaborations,” said Peter Cocoziello, founding donor and chairman of the Cocoziello Institute. “Real estate is an interdisciplinary industry, requiring experts from business, engineering, architecture and beyond. This institute was founded to capitalize on Penn State’s academic excellence in these areas and help forge new cross-disciplinary collaborations.”
Welcome and keynote address
The event began with a welcome from Edward V. Piccinich, chief operating officer of SL Green Realty Corp., who shared the story behind One Vanderbilt, which was chosen as the event’s venue because of its innovation within the built environment. As the leader of the building’s construction, Piccinich offered guests a behind-the-scenes look at its development, highlighting its construction, operations and sustainability features. The 1.7 million-square-foot, state-of-the-art office tower, which opened in September 2020, transformed New York City’s skyline.
Kris Kolluri, chief executive officer of the Gateway Development Commission, and Tony Coscia, chairman of the board of Amtrak, provided the keynote address. They discussed the Gateway Program, emphasizing its critical role in the Northeast Corridor, including constructing a new two-track rail tunnel from New Jersey to Manhattan, rehabilitating the existing North River Tunnel and securing vital infrastructure at Hudson Yards. Kolluri highlighted the project's economic and environmental importance.
Kolluri also emphasized the importance of educational initiatives such as the Cocoziello Institute in driving research and innovation, ensuring solutions to challenges like sustainable development and infrastructure modernization. Together, Kolluri said, these efforts represent a commitment to building a more connected and sustainable future for the Northeast region.
Andrew Read, senior vice president for research, Penn State, addressed the intersection of the keynote addresses and the mission of the Cocoziello Institute.
“By highlighting the critical role of infrastructure projects in economic and environmental sustainability, the speakers underscored the significance of interdisciplinary research,” Read said. “These keynotes epitomized the role the Cocoziello Institute and its interdisciplinary faculty base have in addressing real-world challenges that can be used to drive forward transformative solutions in the real estate industry."
Impact reception and philanthropy
A highlight of the reception was the announcement of a gift to support the institute by Robert Fenza, Penn State trustee and Cocoziello Institute Advisory Board member. The gift of $50,000 will provide ongoing program support that will be matched by the University one-to-one for a total impact of $100,000.
“I am honored to support the Cocoziello Institute with this gift,” Fenza said. “By leveraging this unique matching gift opportunity, I can amplify the impact I can have at Penn State, fostering innovation and driving forward the transformative research to foster entrepreneurship and commercial adoption of Penn State’s intellectual property.”
Penn State President Neeli Bendapudi encouraged other alumni to join Fenza in supporting the institute.
“The Cocoziello Institute exemplifies Penn State’s commitment to innovation, interdisciplinary collaboration and education,” Bendapudi said. “Generous gifts allow the institute to continue its work to strengthen communities, tackling the most pressing infrastructure, public space and urban design challenges while developing leaders who will shape the real estate industry for years to come.”
Endowed gifts/pledges of $25,000 and up to the Cocoziello Institute of Real Estate Innovation are eligible to be matched until June 30, 2025, or until the $5 million matching pool is fully utilized. For more information about making a gift to utilize the match, contact Heather Winfield, director of campaign and university initiatives, at hbw11@psu.edu.
About the Cocoziello Institute
The Penn State Cocoziello Institute of Real Estate Innovation is dedicated to advancing research and collaboration across disciplines to address the challenges facing the real estate industry. Through innovative programs and partnerships, the institute aims to develop solutions that will positively impact the built environment and promote sustainable practices.
About Penn State Research
Penn State is a multi-campus, land-grant, public research University that educates students from around the world and supports individuals and communities through integrated programs of teaching, research and service. Penn State is an R1 university, a classification given by the Carnegie Foundation for the Advancement of Higher Education to the very best research universities in America, reaching a record $1.337 billion in research expenditures during fiscal year 2023-2024. The University’s discovery-oriented, collaborative and interdisciplinary research and scholarship promote human and economic development, global understanding, and advancement in professional practice through the expansion of knowledge and its applications in the natural and applied sciences, social and behavioral sciences, engineering, technology, arts and humanities, and myriad professions. The University’s instructional mission includes undergraduate, graduate, professional, continuing and extension education, offered through both resident instruction and distance learning. Penn State’s educational programs are enriched by the talent, knowledge, diversity, creativity and teaching and research acumen of its faculty, students and staff. As Pennsylvania’s sole land-grant university, Penn State provides unparalleled access to education and public service to support the citizens of the commonwealth and beyond. The University engages in collaborative activities with private sector, educational and governmental partners worldwide to generate, integrate, apply and disseminate knowledge that is valuable to society.
About Philanthropy at Penn State
Gifts to the Cocoziello Institute advance the University’s historic land-grant mission to serve and lead. Through philanthropy, alumni and friends are helping students to join the Penn State family and prepare for lifelong success; driving research, outreach and economic development that grow our shared strength and readiness for the future; and increasing the University’s impact for families, patients and communities across the commonwealth and around the world. Learn more by visiting raise.psu.edu.