Shaw / St Augs are in talks of selling part of their campuses

[Eagle74]

Reporting today is saying that both Shaw / St Augs are in talks of selling part of their campuses for new affordable (low income / subsidized) housing to the city of Raleigh.

[Eagle74]

Does anyone know if Shaw is talking with the city of Raleigh about selling their downtown campu$$$ and retaining their Rock Quarry Rd property? They could use that money to build a really nice new school and football stadium.


Also, Is St Augustine talking about selling 1/2 or more of their campu$$$ to the city of Raleigh, and using the money to pay off their debt stay afloat for a while?

[GoVSUTrojans]

Is Shaw really that big? Land wise.

They might just need to merge.

[Eagle74]

I believe their primary campus beside downtown ( the property the city wants) is around 25 acres, and their farm property (several miles away) on Rock Quarry Rd is around 35 acres. Based on their enrollment trends over the past 10 years, they have a lot more property than what they need, or will need. Here's a chance to ca$h in for a much better future for the school.

[Eagle74]

With Shaw being able to build their own football stadium (at the Rock Quarry Rd campus land), it would add pride to the University and really help with recruiting. Right now the team has to play in another city's municipal facility over in Durham.

[Eagle74]

Presently Shaw's 'home' games are played 32 miles from campus. Not really great for recruiting or attendance.

[LegalRam]

Not being sold, but leased for 99 years........

St Augs has agreed to a deal that will bring in a large influx of money to lease part of their land. This should help them payoff that loanshark deal they made earlier this year with Gothic Ventures. No idea how much land they will be leasing.

https://www.wral.com/news/local/land...sity-nov-2024/

[Eagle74]

In my opinion, based on recent history, I would highly suggest that they hire a reputable money management firm to strictly over see the purse strings, and to carefully allocate funds on a verifiable must need basis.

That's a lot of $$$$ which can really bring SAU back to prominence, but in the wrong mismanaged greedy hands can quickly disappear in a matter of years.

[LegalRam]

In my opinion, based on recent history, I would highly suggest that they hire a reputable money management firm to strictly over see the purse strings, and to carefully allocate funds on a verifiable must need basis.

That's a lot of $$$$ which can really bring SAU back to prominence, but in the wrong mismanaged greedy hands can quickly disappear in a matter of years.

I agree 100% with this.