I’d like to point out that Shaw has about 1,600 students. Duke has 16,000 and Carolina has almost 30,000. Plus, they are both major research institutions with very significant expenditures for labs, etc. A million dollars for tiny liberal arts college is actually pretty significant.
And believe me, I attended two different research universities with multi billion dollar endowments, if I gave a million dollars to either one, I’d be celebrated by campus administration…
One million won’t even get you a McMansion ITB. You need at least 200 people donating one million each probably to do any significant numbers of projects of new construction and renovation.
One million will get you a McMansion, maybe not a new build, but it can get you some significant sq ft. I’m a realtor on the side.
So barely. Maybe. But you completely missed my point. One million can maybe buy a McMansion ITB. How much is it going to help a financially troubled university? They need significant influx of money to do any new construction or renovations.
Just make sure you are making factual statements and not hasty generalizations, please sir.
Just making sure you are providing input to the actual point of the comment and now hoping you will note the sarcasm in my original McMansion comment and not take it so literally that of course there actually may be a some “small” McMansions that sell for less than a million… and you are welcome sir.
Again, make sure you come with facts and not emotional fallacies. This convo between us is done. Have a good day, sir.
Interesting point about the price of a McMansion ITB. A large portion of that cost is in the land, which St. Augs has in abundance. $1.6M goes further when you don’t have to spend that $1M/acre before you start building.
There are also imminent plans to rebuild the building currently supported by steel poles.
Not sure imminent is the word I would use.
I wouldn’t say “construction” is imminent. But I think the planning and design is.
@dtraleigh could you change the title of this thread. HBCU near downtown Raleigh is a little generic, even more so with the current conversation.
It is unfortunate that Shaw, St. Aug, and similarly situated schools are struggling to stay open. There are many factors to consider and I can see that it may be hard to understand the impact of these schools as an outsider. However, as outsiders we still have a role to play. I think thoughtful planning and design could have a big difference – a service that often costs lots of money to afford.
For Shaw, I’d look into the parcel at the corner of S. Wilmington and E. South. A market study might show that an outward facing building developed here with a long-term lease could be part of financial stability strategy.
St. Aug’s campus is sprawling in some ways. I think there is opportunity for innovative strategies that support the school and the neighborhood.
Could you recommend one? I haven’t been following this thread as in-depth as I should be.
Shaw Univ. & St. Augustine’s Univ. (Raleigh’s HBCUs)
Article in the TBJ reporting that Shaw is bringing in the Urban Land Institute to assess a strategy for utilizing their real estate. Check this quote from Shaw’s president:
“I have this vision that I will be Raleigh’s urban university,” she previously said. “And what that means is that the city will be coming and going on my campus, as if it’s just another block in the city.”
That’s a nice vision by their president!
I love it. They can look to NYU, Penn, and GW for some examples of universities whose campuses blend seamlessly into the city around them. (Penn didn’t always but they have been MUCH better in recent years).
It will take Debt spending and private investment, but if they pull it off, it could make them a really nice university, that draws in talent.
…and here are the results.
Quotes are from the Tri. Bus. J. (more detailed and gives better context) and News & Obs. (more of a bird’s-eye view of what’s going on):
The ULI’s suggestion to Shaw: get your head out of Damage Control Mode, and follow these steps:
Add value to existing non-core assets by rezoning, going through assemblages (combining adjacent parcels of land), and selling them to repair/replace aging facilities and infrastructure.
Bring in more experts/consultants to help Shaw come up with a detailed plan for success. This is critical to restore faith in the university’s credit story, to gain future access to capital, and to build strategic partnerships with companies and organizations in the region.
Armed with resources from the property sales plus a long-term plan, execute strategies to build interest and trust in Shaw University. Approach partnerships and future opportunities from a position of strength.
I hope they didn’t wait too long to seek help. I wish them all of the best.