Rice has become the owner of an interesting collection of real estate holdings, over the years--a result of donations from alumni and other supporters. Among the property at one time owned by Rice include the land upon which the Johnson Space Center stands, and a sundry assortment of mansions owned by wealthy, eccentric Rice benefactors.  None of them was more distinctive, or unusual, than The House that Ruth Built. Yes, amazingly,   Rice once owned it.

The Institute had acquired the venue from 1927 alumnus John Cox, who had acquired all of the capital stock of the stadium holding company in 1955. In 1962, Cox donated it to his alma mater, claiming it was theirs to have and hold, "lock, stock and barrel."  Actually, Rice was in an unlikely partnership with the Knights of Columbus in that regard, because, while the Institute owned the stadium itself, the Knights owned the real estate underneath it.

In 1962, the Rice tenant won its second, consecutive World Series. Rice held onto the property after that  for nine years--during which time the Yankees never again won a pennant; never played in a World Series.  (Was there some kind of Rice Sports Jinx at work there?)  The City of New York acquired the property by eminent domain in 1971, prior to the major remodeling job that was put into the stadium.  Rice readily acquiesced, to the tune of a $2.5 million condemnation fee.  For the Institute, apparently, owning Rice Stadium was stadium enough.

For details, see:
The House that Ruth Built--the House that Rice owned
(The Rice Thresher)

History of Yankee Stadium

Virtual tour of Yankee Stadium