Howard University
Washington, D.C.
Case Study
Howard University teamed up with the Washington, D.C. government, Fannie Mae, and corporate partners to transform 45 abandoned, university-owned properties in a neglected neighborhood into more than 300 housing units and $65 million in commercial development. The Howard University LeDroit Park Initiative had three themes: 1) celebrate the history of the area; 2) redefine the community; and 3) enhance the quality of life and safety. The goal was to restore LeDroit Park and surrounding communities both culturally and economically through the creation of homeownership for moderate-income families and to spur renovation of abandoned housing area-wide. Participants in the effort envisioned the Howard-sponsored redevelopment as a catalyst for other private and publicly sponsored revitalization activities in the area. Howard University engaged a number of other partners in the creation of redevelopment in the LeDroit Park area. From 1995 through 2000, the university received approximately $2.4 million in grants from the U.S. Department of Housing and Urban Development’s Historically Black Colleges and Universities Community Development Program. Verizon put fiber optic cables into the area. Howard has also worked with Manna and the Peoples Involvement Corporation, two nonprofit community development corporations, to construct a new townhome development for low- and moderate-income homeowners; adaptively reuse an old school building to create apartments for seniors; develop a former multifamily residential structure into a social service center for public housing families; and provide the provision of case management services to families in the area’s public housing development.
Links to relevant articles:
Filter Case Studies
By Asset Class:
By Impact Area:
Related Case Studies
Rowan University
Glassboro, NJ
Similarities: Capital Aggregator, Local Anchor, Opportunity Sponsor, Building a Capital Stack, Housing Stability & Affordability, Identifying Capital Sources, Structuring Public-Private Partnerships
As Rowan began to increase its capital spending locally, the city of Glassboro saw a unique opportunity to leverage the Rowan investments by developing a plan for the transformation of the downtown area leading to the university. This plan ultimately became the $476 million, mixed-use development of Rowan Boulevard. In the city of Glassboro more than 30 percent of school-aged children qualified for the free lunch program and 20 percent of families earn under the poverty line.
Ohio State
Columbus, OH
Similarities: Capital Aggregator, Opportunity Sponsor, Building a Capital Stack, Community Housing, Housing Stability & Affordability, Identifying Capital Sources, Structuring Public-Private Partnerships
Working through Campus Partners, a nonprofit community development corporation, Ohio State invested $28 million of its endowment funds into the “South Campus Gateway” complex.
Stillman College
Tuscaloosa, AL
Similarities: Capital Aggregator, Opportunity Sponsor, Building a Capital Stack, Community Housing, Housing Stability & Affordability, Identifying Capital Sources
As soon as it became clear that Stillman would be located in a Opportunity Zone, the school’s president seized the opportunity to enlist the support of potential private equity partners, the City of Tuscaloosa, and consultants to develop investment projects for the school’s vacant and unused property holdings.
Lehigh University
Bethlehem, PA
Similarities: Opportunity Sponsor, Building a Capital Stack, Community Housing, Housing Stability & Affordability, Identifying Capital Sources, Structuring Public-Private Partnerships
Opportunity Zone equity was paired with Historic Tax Credits to support the transformation of an underutilized 125-year-old building on Lehigh University’s campus into 30 apartments and new retail space in South Bethlehem. Reinventing this space is part of Lehigh’s strategy to demonstrate their commitment to community, revitalize South Bethlehem, and continue campus expansion as the university grows.
LaSalle University
Philadelphia, PA
Similarities: Capital Aggregator, Local Anchor, Opportunity Sponsor, Building a Capital Stack, Identifying Capital Sources, Structuring Public-Private Partnerships
In 2004, La Salle University’s Office of Community and Economic Development worked with leadership and community members to craft a realistic plan to improve the quality of life for residents around the campus. The University’s findings led them to The Reinvestment Fund (TRF), a Philadelphia-based CDFI and leader in the financing of neighborhood revitalization, affordable housing, community facilities, supermarkets, and commercial real estate.
University of Dayton
Dayton, OH
Similarities: Local Anchor, Building a Capital Stack, Community Housing, Housing Stability & Affordability, Structuring Public-Private Partnerships
The university serves as an anchor in The Dayton Arcade project which restored a 9-building complex in downtown Dayton. The projectincludes affordable and market-rate units, University of Dayton and the Entrepreneurs Center’s Arcade Innovation Hub, leasable office and retail space, and event space. The Arcade is part of a larger plan by the City of Dayton to bring residents, jobs, and visitors back to the downtown.
University at Buffalo
Buffalo, NY
Similarities: Local Anchor, Building a Capital Stack, Community Housing, Housing Stability & Affordability, Structuring Public-Private Partnerships
To encourage home ownership and help support stabilization and revitalization in and around the South Campus, the University at Buffalo offers the UB H.O.M.E. (Home Ownership Made Easy) program to full-time and part-time faculty and staff. This program is being funded by the University at Buffalo Foundation (UBF) in partnership with West Side Neighborhood Housing Services (West Side NHS), Inc., a NeighborWorks America Chartered Member with a proven track record of housing and community revitalization.
University of New Hampshire
Durham, NH
Similarities: Building a Capital Stack, Community Housing, Housing Stability & Affordability, Identifying Capital Sources, Structuring Public-Private Partnerships
In July 2017, the University of New Hampshire (UNH) Foundation invested $3.06 million investment into the Community Loan Fund. This was the UNH Foundation’s first impact investment, and its first investment directly into a New Hampshire organization or business. This total investment was one of the largest investments ever in the Community Loan Fund, and […]
The University of Cincinnati
Cincinnati, OH
Similarities: Capital Aggregator, Building a Capital Stack, Housing Stability & Affordability, Identifying Capital Sources, Structuring Public-Private Partnerships
The University of Cincinnati’s endowment was nearly $833 million in 2009. From 2003 through 2009, the University invested $148.6 million of this money (roughly 13.6 percent of the school’s entire endowment) to finance real estate development in the neighborhood of Uptown Cincinnati.
University of Chicago (Child Care)
Chicago, IL
Similarities: Capital Aggregator, Opportunity Sponsor, Building a Capital Stack, Identifying Capital Sources, Structuring Public-Private Partnerships
The University of Chicago and IFF, a CDFI with a history of lending to the child care sector, have worked together on multiple initiatives to create more childcare and education opportunities for Chicago’s communities.
University of Pennsylvania
Philadelphia, PA
Similarities: Capital Aggregator, Local Anchor, Opportunity Sponsor, Community Housing
Between 1996 and 2003, the University of Pennsylvania tripled the dollar amount of goods and services purchased from West Philadelphia businesses through their Economic Inclusion Initiative. They continue to focus on local purchasing and aim to award 20 percent of all construction contracts to minority or women-owned businesses.
Tulane
New Orleans, LA
Similarities: Local Anchor, Opportunity Sponsor, Housing Stability & Affordability, Structuring Public-Private Partnerships
The Warwick Hotel has been abandoned since Hurricane Katrina. The 154 room hotel, with its 1950s-era modernist architecture, opened in 1952. Tulane University signed a lease on Warwick and the structure will be completely renovated using opportunity zone money from the New Orleans Redevelopment Fund.
Clemson University
Clemson, SC
Similarities: Local Anchor, Opportunity Sponsor, Identifying Capital Sources, Structuring Public-Private Partnerships
Clemson University has deployed a distributed energy storage system in an effort to reduce energy costs and to provide engineering students an opportunity to practice measuring and tracking energy savings. “Our distributed energy storage system is a natural extension of our core businesses in the buildings and battery markets and partnering with Clemson University allows us to help deliver the kind of smart and integrated energy management that will keep students and faculty comfortable while driving down utility costs,” said John Schaaf, vice president of distributed energy storage at Johnson Controls, in a prepared statement.
Missouri State University
Springfield, MO
Similarities: Capital Aggregator, Opportunity Sponsor, Building a Capital Stack, Identifying Capital Sources
Using a $1.25M grant from the Economic Development Administration and matching local OZ funds, the University plans to expand its efactory business incubator in Springfield, MO. According to Missouri State, this investment is expected to create “360 jobs and spur $27 million in private investment.”
University of Iowa
Iowa City, IA
Similarities: Local Anchor, Opportunity Sponsor, Identifying Capital Sources, Structuring Public-Private Partnerships
“Hannon Armstrong joins ENGIE and Meridiam in the “Hawkeye Energy Collaborative,” which was awarded a $1 billion 50-year utility management concession contract in December 2019 and reached financial close on March 10, 2020. Hawkeye Energy Collaborative will support the University of Iowa’s energy, water, and sustainability goals for two campuses spanning 1,700 acres in Iowa City, Iowa. Under the agreement, ENGIE will operate, maintain, optimize, and improve the on-campus utility systems for the University.
Case Western Reserve in Cleveland
Cleveland, OH
Similarities: Local Anchor, Community Housing, Housing Stability & Affordability, Structuring Public-Private Partnerships
The Greater University Circle Initiative coordinates three large anchor institutions located in Cleveland’s University Circle area—about one-square mile of educational, cultural, and health institutions. Through this initiative, the Cleveland Clinic, University Hospitals, and Case Western Reserve University networked and deployed their resources in a powerful challenge to the persistent poverty and disinvestment in seven surrounding neighborhoods.
California State University, Dominguez Hills
Carson, CA
Similarities: Local Anchor, Opportunity Sponsor, Identifying Capital Sources, Structuring Public-Private Partnerships
The university is working with energy storage firm Stem, Inc. to implement the company’s software-driven energy storage service to drive down energy costs across the university. “CSU Dominguez Hills is another example of a higher education leader who seeks Stem’s automated energy savings while also contributing to more intelligent grid solutions,” said John Carrington, CEO of Stem. “California’s universities and colleges want energy storage to help them control their energy choices, play a strong role in their community, and help transition the state to even higher amounts of renewable energy.”
UAB
Birmingham, AL
Similarities: Local Anchor, Community Housing, Housing Stability & Affordability, Structuring Public-Private Partnerships
The University of Alabama at Birmingham offers assistance to full-time, benefits-eligible faculty and staff who buy or renovate a home in designated areas in the nearby neighborhoods of Five Points, Glen Iris and North and South Titusville. These five year conditional grants may be used for the purchase, down payment and/or closing costs for a new home or for renovations on an existing home in the incentive zone.
University of Chicago (Housing)
Chicago, IL
Similarities: Local Anchor, Community Housing, Housing Stability & Affordability
“Since the University of Chicago launched its employer-assisted housing program in 2003, it has had 230 employees receive assistance to purchase homes in Woodlawn, North Kenwood, South Shore, Washington Park, and a few other nearby neighborhoods.”
Western Colorado University
Gunnison, CO
Similarities: Opportunity Sponsor, Community Housing, Structuring Public-Private Partnerships
Western Colorado University’s ICELab is a “community organization with a keen interest in mountain town sustainability and economic diversity in rural Western Colorado.” The lab provides startups and growing businesses affordable coworking/office space as well as an Incubator Program.
Northeastern University
Boston, MA
Similarities: Capital Aggregator, Building a Capital Stack, Identifying Capital Sources
Northeastern launched the region’s first university-supported loan program for women- and minority-owned businesses. The initiative, called the Impact Lending program, enables local small-business owners to secure loans, at below-market interest rates, to acquire crucial resources to expand their businesses.
Duke University
Durham, NC
Similarities: Local Anchor, Identifying Capital Sources, Structuring Public-Private Partnerships
Hope Enterprise Corporation, with a commitment from Goldman Sachs, partnered with seven cities and nine historically Black colleges and universities to launch the Deep South Economic Mobility Collaborative (DSEMC). These include Alabama State University, Miles College, Philander Smith College, Southern University and A&M College, Dillard University, Xavier University of Louisiana, Jackson State University, Tougaloo College, and LeMoyne-Owen College.
Deep South Economic Mobility Collaborative (Multiple HBCUs)
Southeast
Similarities: Local Anchor, Identifying Capital Sources, Structuring Public-Private Partnerships
Hope Enterprise Corporation, with a commitment from Goldman Sachs, partnered with seven cities and nine historically Black colleges and universities to launch the Deep South Economic Mobility Collaborative (DSEMC). These include Alabama State University, Miles College, Philander Smith College, Southern University and A&M College, Dillard University, Xavier University of Louisiana, Jackson State University, Tougaloo College, and LeMoyne-Owen College.
University of Virginia’s College at Wise
Wise, VA
Similarities: Local Anchor, Opportunity Sponsor, Structuring Public-Private Partnerships
UVA-Wise is the lead partner for an Opportunity Appalachia program in the State. They are a leader in Southwest Virginia in community and economic development, with tremendous connections to community leaders across the region and to state government. They have a strong track record in downtown development and rural entrepreneurship efforts in +20 communities.
Marquette University
Milwaukee, WI
Similarities: Local Anchor, Community Housing, Structuring Public-Private Partnerships
Marquette University is one of the 5 anchor institutions funding the Near West Side Partners nonprofit organization. The organization’s mission is to revitalize and sustain the Near West Side as a thriving business and residential corridor, through collaborative efforts to promote economic development, improved housing, unified neighborhood identity and branding, and greater safety for residents and businesses.
University of Indianapolis
Indianapolis, IN
Similarities: Opportunity Sponsor, Structuring Public-Private Partnerships
The University of Indianapolis joined city and community leaders to celebrate construction of the University Lofts apartments, an off-campus student housing development in partnership with Indianapolis-headquartered Strategic Capital Partners.
University of Memphis
Memphis, TN
Similarities: Local Anchor, Housing Stability & Affordability
University Neighborhoods Development Corporation works to build and enrich campus and community environment by investing in surrounding neighborhoods. UNDC is a partnership between University of Memphis, University District Business Alliance, University District, Inc., Shelby County Division of Planning and Development, and Economic Development Growth Engine. Opportunity zones are one of their main initiatives. Their Work Local program is designed to improve the community through job access and blight reduction by providing job-seeking panhandlers with a day’s wages and a meal to clean-up sites, where they work to reduce urban blight.
Arizona State
Phoenix, AZ
Similarities: Local Anchor, Opportunity Sponsor
Arizona State moved its schools of nursing and journalism and other programs into a once-blighted section of Phoenix in a project that includes student housing and private development. Part of the anchor institution model is to invest in a suite of different programs and initiatives meant to connect them with the community.
The Russell Center
Atlanta, GA
Similarities: Capital Aggregator, Opportunity Sponsor
The Herman J. Russell Center for Innovation and Entrepreneurship is a 50,000 SF campus in one of Atlanta’s fast growing downtown neighborhoods that is focused on black entrepreneurship.
Ohio University
Athens, OH
Similarities: Local Anchor, Identifying Capital Sources
Ohio University is very active in community development throughout Appalachian Ohio. They work with a network of regional entrepreneurship partners including a business incubator they run, an Angel Fund, a public VC Fund, several non-profit development orgs, and are very engaged in OZ work in Southern Ohio.
Kansas State University
Manhattan, KS
Similarities: Local Anchor, Identifying Capital Sources
In 2006, Kansas State held listening sessions across the state aimed at identifying challenges facing rural Kansas communities. During these sessions, the need to support rural grocery stores rose to the top.
Indiana University-Purdue University Indianapolis
Indianapolis, IN
Similarities: Local Anchor, Housing Stability & Affordability
IUPUI hosts a class called “Planning for a Profitable Business” in a borrowed corner of a public housing complex for formerly homeless veterans on Indianapolis’ Near West Side. The students are current and aspiring entrepreneurs, many of them from this hard-luck neighborhood, which IUPUI is working to improve.”
Rutgers University – Newark
Newark, NJ
Similarities: Local Anchor, Opportunity Sponsor
The Center for Urban Entrepreneurship & Economic Development (CUEED) at RU-N is one of the first centers of its kind to integrate scholarly works with private capital, government, and non-profit sectors to develop citywide resources and bring renewed economic growth and vitality through urban entrepreneurship.
UNC Chapel Hill
Chapel Hill, NC
Similarities: Structuring Public-Private Partnerships
UNC and Chapel Hill town officials have partnered to spur innovation and entrepreneurship and keep local businesses and research ventures in town. The Carolina Economic Development Strategy’s goal is to revitalize the downtown and boost economic development. The partnership seeks to bring UNC affiliated businesses to downtown Chapel Hill through newly built office spaces.
The University of Maine and St. Joseph’s College
Maine
Similarities: Structuring Public-Private Partnerships
Local universities leveraging their faculty and staff to help spur expansion of critical local businesses and industries makes those businesses and industries more investable – and Maine lobster is a perfect example.
Bates College
Lewiston, ME
Similarities: Local Anchor
Boston-based Arctaris is building workforce housing and broadband infrastructure across Maine.(Source: Beeck Center) One of their projects is on Bates College’s campus to provide workforce housing for Bates’ employees.
Morehouse College
Atlanta, GA
Similarities: Community Housing
NPU-T (Neighborhood Planning Unit-T), Ashview Community Development Association, West End Neighborhood Development Association, Westview Community Organization, West End Merchant Coalition, Booker T. Washington Homeowners Association are working together under the Morehouse College Community Revitalization Initiative (MCCRI) . The initiative was started as programming to develop a relationship with the college’s surrounding community, greater West End Atlanta.
Drexel University
Philadelphia, PA
Similarities: Local Anchor
The Lindy Institute for Urban Innovation’s Nowak Metro Finance Lab, advances thought leadership, research, as well as new resources and tools to build support for communities leveraging Opportunity Zones.”
College of St. Joseph
Rutland, VT
Similarities: Local Anchor
St. Joseph’s accreditation was suspended in 2019 because of financial concerns. Now, the college’s space and land is being evaluated for potentially becoming an innovation center for the surrounding community.
University of Washington
Seattle, WA
Similarities: Housing Stability & Affordability
Livable City Year program is a partnership between cities in Washington state and UW’s faculty and students from various disciplines to strategize solutions to the specific community’s needs. Since 2016, this university program has produced numerous projects for the cities of Auburn, Tacoma, and Bellevue including enhancing Startup 425, a program that provides value-adding services to local startups and neighborhood planning projects.