Transforming Campus Through Real Estate Development and Public-Private Partnerships

ClientHoward University

The Challenge

Howard University sought to modernize and transform its campus facilities while maintaining affordability by leveraging underutilized assets across its portfolio utilizing P3 and other alternative financing vehicles to limit balance sheet and credit impacts.

Our Approach

Hayat Brown has served as a trusted advisor to HU since 2015, engaging in over 15 key real estate and utility projects, using the following approach:

  1. Prioritize Assets
  2. Value Portfolio
  3. Develop Asset Monetization Strategy
  4. Execute Transactions

Results Achieved

  • 14 projects closed
  • $300M value delivered
  • $155M+ deferred maintenance
  • 3,000+ beds delivered
  • 3.3M SF of development planned

Lot 3 Development

Scope: Mixed use development transforming a 3.1-acre parking lot into the National Research Center for Health Disparities and a multifamily building with ground floor retail.

Key Benefits:

  • Maximum land value distributed upfront and through long-term revenue streams
  • 260k SF lab and office space
  • Delivers much-needed housing and retail in neighborhood

Hospital & Health Sciences Development

Scope: New $650 million, 220-bed Level I trauma center and academic teaching hospital, medical office building and academic centers.

Key Benefits:

  • Enhanced services for underserved populations
  • Integrated health sciences complex and STEM facility catalyzes interdisciplinary research and patient care
  • Long-term revenue from former hospital site

Howard Plaza Towers

Scope: Renovation of 1,753 upperclassmen and graduate apartment-style beds and creation of new living/learning amenities through concession structure.

Key Benefits:

  • $40 million upfront payment
  • $3 million additional annual revenues to HU
  • $5 million in annual deferred maintenance savings
  • $70 million renovation
  • Fully-funded capital reserve account

Bond Bread Redevelopment

Scope: Mixed-use development preserving two historic structures and revitalizing the primary commercial corridor adjacent to campus, totaling 646,000SF at $260M development cost

Key Benefits

  • Maximum land value distributed upfront and through long-term revenue streams
  • New campus gateway
  • Neighborhood serving retail businesses that create local jobs
  • Preserve and reuse historic features
  • Minority business participation

Hayat Brown serves the unique needs of universities, enabling leaders to tackle the challenge of debt ceilings and budget limitations by unlocking value from excess and underutilized assets. The Hayat Brown team has delivered over 140 P3 transactions on behalf of public sector entities and higher education institutions, including Howard University.