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Winter 2009 Table of Contents

Board of Trustees Appoints Stephen Karp (CAS'63)

Real estate expert is founder and chair of New England Development

| From Commonwealth | By Jessica Ullian

Stephen Karp (CAS'63)

Stephen R. Karp, who heads one of the premier real estate companies in the Northeast, was appointed to the Boston University Board of Trustees at a board meeting earlier this semester.

Karp (CAS’63) is the founder and chair of New England Development, a firm ranked second on the 2006 Boston Business Journal list of the area’s largest commercial developers.

“Stephen Karp is an outstanding and welcome addition to the board,” says Robert A. Knox (CAS’74, GSM’75), chair of the Board of Trustees. “His vision, business acumen, and management experience are highly valued attributes that will considerably strengthen our governance capabilities, particularly as the University executes its strategic plan and must decide which investments will deliver the most significant impact to improve its overall standing in the years to come.”

Karp developed one of the first enclosed malls in the Northeast, which opened in 1972, and founded New England Development in 1978. The company’s current development portfolio includes CambridgeSide Galleria and Pier 4, a planned mixed-use project on the South Boston waterfront.

Karp is past chair and a current member of the International Council of Shopping Centers board of trustees and a member of the Greater Boston Real Estate Board and the Urban Land Institute.

He is also chair of the board of trustees of Children’s Hospital Boston, a trustee and past chair of Children’s Hospital Trust, an overseer for Newton-Wellesley Hospital, and a trustee of Union College and the Belmont Hill School.

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