The Challenge
Johnson C. Smith University, an HCBU located in a rapidly-redeveloping area of Charlotte, NC, sought consultants to develop a real estate strategy designed to improve student housing facilities and to generate new revenue streams while maintaining affordability by leveraging underutilized assets across its portfolio.
Our Approach
Real Estate Portfolio Assessment
Our team conducted a high-level assessment of JCSU’s real estate portfolio, placing specific emphasis on two existing residence halls the strategic acquisition of a nearby parcel. This assessment aimed to identify and prioritize properties that present immediate development, redevelopment or revenue generating opportunities based on current market conditions.
Student Housing Redevelopment Strategy
The team conducted a targeted review of the university’s student housing portfolio. The analysis included a review of occupancy, financial, facility condition assessment and other relevant data. As part of this analysis, we reviewed operating budgets to understand the cashflow impacts on the university’s broader finances. Using this information our team is developing a strategy for the redevelopment of JCSU’s student housing facilities and a proposed mixed-use development.
Solicitation Development and Proposal Evaluation
Leveraging our previous analysis, our team will craft a set of solicitation materials for prioritized development projects. To support the evaluation process, Hayat Brown will develop evaluation templates and scoring matrices that incorporate all evaluation factors and rating criteria. In support of the evaluation committee, our team will evaluate each proposal based on the evaluation factors, including assessing the validity of financial assumptions summarizing the strengths and weaknesses of each bidder’s overall plan for the projects.
