Delaware State University

Dover,

Property Acquisition Strategic Planning And Market Assessment

In 2012 Delaware State University selected B&D to conduct a strategic plan and market assessment for a recently acquired property located in Wilmington, Delaware. The intention of the assessment was to evaluate opportunities associated with the new facility to support academic, economic development, and other educational and training initiatives that would reach beyond the University. We were tasked with addressing the following areas: (1) What facility programs would best optimize existing and potential future economic development opportunities for the Newark-Wilmington corridor and the greater Wilmington Metropolitan area? (2) In what ways could this building function as an incubator space for start-up businesses? (3) How might workforce training / adult education be incorporated into the final program? Our scope of work led to research and analysis that assisted in the overall planning process. We conducted interviews with key staff to understand the objectives and desired outcomes for the facility and toured the site of the new facility. We also conducted a demographic analysis of the market, led a benchmarking analysis of comparable projects, and developed a preliminary program. As a result, we identified and recommended specific market segments that the university should focus on with respect to academic opportunities that would benefit the school and the Wilmington market.