Houston Baptist University

Houston,

Campus Strategic Planning And Development Advisory Services

In the spring of 2012, Houston Baptist University selected Brailsford & Dunlavey to serve as development advisor in the first stage of a long-term initiative to increase enrollment and modernize and expand its campus facilities. The University planned to redevelop a 40-acre campus-edge commercial property along Southwest Freeway and create an innovative University Center mixed-use development that would generate additional income, create a new external campus image, and serve as a catalyst for other neighborhood redevelopment. B&D defined and evaluated the detailed parameters of each project component, considering various factors including programmatic, locational, market, political, capital, and operating requirements. The scope of work included a community and campus market analysis, programming, a financial analysis, concept development, a financing structure evaluation, and an implementation strategy.

As a result of its planning efforts, B&D concluded that the market would support commercial development properties such as retail, a hotel and conference center, market-rate housing, student housing, an arena, and parking to support its strategic objectives. In the financial analysis, various delivery methods and financing structures were tested against levels of risk tolerance. B&D further concluded that a student housing development would not be an appropriate project at this time, but recommended the University implement action items to set the stage for this housing and provide for flexible enrollment growth through a strategic rental rate plan that gradually increased over four years. The recommendation also laid out the optimal mix of age-appropriate housing that would provide a good freshman experience and cost-effective graduate student housing. Serving as program manager, B&D led the selection process for development partners to implement each of the project types associated with this campus edge initiative.

Currently, B&D is advising the University throughout the implementation process of the 40-acre, $160 million project and is working with the University to continually refine the plan as conditions evolve. The first completed project centered on the $3 million Belin Tower, which was dedicated in August 2015 and included a new campus entrance, a roadway, and infrastructure/utilities improvements.

SOURCES & METHODS OF PROJECT FUNDING

Presented by Brad Noyes to the 2013 North Carolina State Building Commission.

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