In recent weeks, evidence of the recession has surfaced in Collegetown. With the closing of Sinbad’s and Collegetown Candy and Nuts, upperclassmen walking to and from class are nearly guaranteed to pass a vacant storefront or two. It is worrisome to witness businesses shutting down in the area, but now may be a defining time for redevelopment of Collegetown’s commercial landscape.

Cornell students consistently comprise 97 percent of the area’s population and have the ability to temporarily transform the neighborhood. But after graduation, most students leave Ithaca, never to return except for the occasional reunion. As a haven for nearly half of the Cornell student population, the University should encourage development in Collegetown.

One way to foster the growth of local business would be for the University to provide graduating seniors with financial incentives to stick around and develop entrepreneurial objectives. An example of a successful Collegetown establishment started by an alumnus is That Burrito Place — owned by Jeff Mayer ’05. Starting a business in Collegetown has its barriers to entry. Acquiring the capital necessary to begin a business is a daunting task. Idea competitions — specifically those aimed at local business growth — would provide the financial backing for students to see these ideas come to fruition.

Along these lines, Cornell could directly involve itself in Collegetown by creating local businesses to serve as teaching tools for students. The School of Hotel Administration, with its restaurant Taverna Banfi, has successfully employed a similar model by both employing students and blending classwork with hands-on restaurant management. While teaching students would be the primary responsibility of such a venture, perhaps the right business could provide an additional revenue stream to the University as well.

Over the past two decades, Cornell has placed an emphasis on improving residential life on North and West Campuses with vast construction developments and initiatives. But we hope the University has not overlooked the role that Collegetown plays in student life. Although the University does not own much of this land, Cornell does have a stake in the well-being and continuity of Collegetown.

Collegetown is in need of revitalization. As Collegetown tenants, students become aware of the missing local amenities but have little ability to see their needs satisfied. The University could not only provide students with a better off-campus living environment, but perhaps itself prosper from directly engaging and helping to rebuild Collegetown.