Molasky Family Gift Creates Named Department of Economics and Real Estate at UNLV’s Lee Business School

How a Transformative Gift Shapes UNLV’s Economics and Real Estate Programs

The recent announcement from the University of Nevada, Las Vegas (UNLV) highlights a landmark contribution that will reshape academic offerings for years to come. The Molasky family’s generous gift has established the first named academic department in the university’s history – the Molasky Family Department of Economics and Real Estate within the Lee Business School. This development not only honors a legacy of community involvement but also creates concrete opportunities for students, faculty, and the broader Southern Nevada region.

The Molasky Family’s Long‑Standing Connection to UNLV

Decades before this gift, Irwin Molasky donated 45 acres of land at Maryland Parkway and Flamingo Road, which became part of UNLV’s founding campus. His service as the founding chairman of the UNLV Foundation and the honorary doctorate he received in 2009 underscore a relationship built on shared vision for the university’s growth. Today, his children and grandchildren continue that tradition by investing directly in the academic unit that studies the forces shaping Southern Nevada’s economy.

What the Gift Funds

The endowment created by the Molasky family will support several strategic priorities:

• Student scholarships that reduce financial barriers for aspiring economists and real‑estate professionals.
• Experiential learning initiatives, including internships and field projects that connect classroom theory with local industry practice.
• Curriculum development to keep coursework aligned with emerging trends in economic development, public policy, housing, finance, and regional growth.
• Faculty research fellowships that attract scholars whose work addresses pressing issues facing Southern Nevada.
• Programming that links students with professional pathways, such as the Molasky Family Leadership & Mentorship Program, which pairs learners with industry mentors for semester‑long leadership development.

These components are designed to create a pipeline of talent equipped to contribute to the region’s economic vitality.

Impact on Lee Business School and the Campus

The gift also advances the Lee Business School’s Building Business Together campaign, providing funding for the construction of a new Business Academic Building on campus. This facility will house state‑of‑the‑art classrooms, collaborative spaces, and research labs, further enhancing the learning environment.

In addition, the Molasky family’s ongoing involvement through Ovation Development Corporation – a major developer of market‑rate and affordable multifamily communities – reinforces the link between academia and industry. Ovation has already begun hiring UNLV graduates and interns, many of whom participate in the Lee Business School mentorship program.

Voices from the Molasky Family

Alan Molasky, chairman of Ovation Development Corp., emphasized that the gift reflects the family’s belief that housing and higher education are foundational to individual and community well‑being. Jess Molasky, COO of Ovation, noted the personal significance of the gift as a young professional who has benefited from UNLV internships and sees the department as a launchpad for future leaders. Josie Molasky, design principal at Ovation, highlighted the family’s “people first” mantra and expressed enthusiasm for deepening the relationship with UNLV to create opportunities for students from all walks of life.

Academic Perspective: Why Economics and Real Estate Matter in Southern Nevada

Ian McDonough, professor and chair of the newly named department, pointed out that Southern Nevada offers a living laboratory for studying economics and real estate. Issues such as economic development, public policy, housing affordability, finance, and regional growth unfold daily in the Las Vegas valley, allowing students to see the direct relevance of their coursework and research.

The department’s interdisciplinary approach brings together economic development, public policy, real estate, housing, finance, and regional growth – fields that are tightly interwoven in the local economy. By strengthening ties with industry and community leaders, the department aims to produce graduates who can address complex challenges and drive sustainable growth.

Recognition and Milestones

Earlier in 2026, Lee Business School honored Alan Molasky at the Nevada Business Hall of Fame with the Lieder Award, recognizing his leadership and service to the state’s business community. Dean Anjala Krishen described the naming of the department as a “full‑circle moment” for the university, the Molasky family, and the region, linking Irwin Molasky’s original land donation to today’s investment in academic excellence.

How Prospective Students Can Benefit

If you are considering a career in economics, real estate, finance, or related fields, the Molasky Family Department offers several advantages:

1. Financial Support: Scholarships funded by the endowment can help offset tuition costs.
2. Practical Experience: Access to internships, mentorship programs, and industry‑linked projects.
3. Relevant Curriculum: Courses that reflect the current economic landscape of Southern Nevada.
4. Research Opportunities: Fellowships and faculty‑led projects that allow you to contribute to meaningful studies.
5. Career Preparation: Strong connections with local employers, including Ovation Development and other businesses active in the Las Vegas market.

These resources are designed to give you a competitive edge as you enter the workforce or pursue advanced studies.

Next Steps for Interested Applicants

Prospective students who want to learn more about the Molasky Family Department of Economics and Real Estate can take the following actions:

• Explore undergraduate and graduate degree options offered by the Lee Business School.
• Schedule a campus visit or virtual information session to see the new Business Academic Building and meet faculty.
• Contact the admissions office with specific questions about scholarships, curriculum, or career outcomes.
• Learn about giving opportunities if you wish to support the department’s mission.
• Stay updated on news and events related to the Molasky Family Gift and department activities.

Taking these steps will help you determine how UNLV’s enhanced economics and real estate offerings align with your academic and professional goals.

Conclusion

The Molasky family’s gift represents more than a financial contribution; it is a commitment to fostering education, research, and community partnership in Southern Nevada. By naming the Department of Economics and Real Estate, UNLV acknowledges the family’s enduring legacy while positioning students to thrive in a dynamic economic environment. Whether you are a prospective student, a current learner, or a community stakeholder, the developments stemming from this gift offer tangible benefits and a promising outlook for the region’s future.