 It was later shifted to the creation of an advanced studies institute named in honor of Dean Arthur M. Weimer (1910–1987), Hoyt’s closest friend and co-author of a longstanding leading textbook in real estate.By January 2009, the Institute had admitted over 120 candidates who are national and international leaders in academic and industry research in real estate and related areas to the status of Weimer School Fellows.The Advanced Studies Institute, which oversees the Weimer School, was renamed the Maury Seldin Advanced Studies Institute in Real Estate and Land Economics when Dr. Seldin, the founding president of the Homer Hoyt Institute, retired after twenty-five years of service.