Credit: Terrence Jones

Date:  November 10-15, 2019

Location: Raleigh, NC

Sponsor: Shaw University

Subject Area: University Planning, Leveraging Real Estate Assets

Panel Chair: Lyneir Richardson, Rutgers University, New Brunswick, NJ

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Panel Background and Assignment

Shaw University is a private liberal arts institution located in downtown Raleigh, North Carolina. Shaw holds the distinction of being the first historically black university in the southern United States and among the oldest Historically Black Colleges & Universities (HBCUs) in the nation. As such, Shaw has a long history of educating African Americans in business, arts, and sciences; a mission it proudly continues today. However, like many small, private institutions, Shaw is challenged by declining enrollment, aging facilities, and a limited endowment. Shaw understands that its greatest asset is its location and real estate. The University’s physical setting is at the southern edge of Raleigh’s central business district, and in proximity to the state capitol, Dorothea Dix Park, the campus of North Carolina State University, along with four other colleges and universities, and thriving adjacent residential neighborhoods. Additionally, the institution owns several properties outside its core campus both in Raleigh and in cities across North Carolina.

Shaw engaged the Urban Land Institute to convene an Advisory Services Panel as the initial step in a long-term process to create a campus and community consensus about how to tackle critical challenges and position the institution to evolve over the next 10 years. The Panel was tasked with identifying land use and real estate property strategies that would support Shaw as it seeks to leverage its real estate assets to meet its near-term and long-term mission and strategic goals.

Summary of Recommendations

The Panel recommended organizational and real estate strategies, including a six-month Stabilization and Transformation Action Plan, that would provide a blueprint for short-term crisis management to enable the University to support its core mission of providing quality education. The Panel’s recommendations include:

1. Reimagine the Shaw business model for the new economy and pursue effective capital formation strategies.
2. Leverage Shaw’s real estate opportunity to generate near-term cash flow and support reinvestment into core and strategic properties.
3. Embrace Shaw’s urban context by investing in placemaking and connectivity.
4. Develop a robust communication strategy that engages multiple stakeholders including alumni, students, community members, local businesses, the philanthropic community, and public sector leadership.
5. Enrich governance and leadership to advance mutually held goals.
6. Implement the Stabilization and Transformation Action Plan over the next 6 months.