U3 Ventures

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  • U3 Ventures

    1. 1. ANCHOR INSTITUTIONS Michigan Municipal League September 23, 2009
    2. 2. Examining the Relationship • Anchors’ role in the intellectual life of cities is well understood – Relationship with community/city/region has shifted from Town-Gown to Economic Engine – Today commonly identified as part of a city’s narrative and a point of civic pride • Less understood: – Economic impact – Industry and business creation – How they shape the built environment – Influence the Social Fabric at the
    3. 3. Understanding the Interdependencies • The business of Higher Education: – Employment Base – Procurement of Goods – Capital Investment – Generator of Service Economy • Institutions are major land and property owners • Institutions attract significant research funding • Impact both supply and demand side of real estate
    4. 4. Anchor Strategies • Community Builders • Planners and Developers • Engines for Driving Economic Growth
    5. 5. A Community Builder Dr. Martin Luther King Library, San Jose State University
    6. 6. Dr. Martin Luther King Library, San Jose  The King Library is the library for San José State University and the Main Branch of the City of San José Library System  Opened August 1, 2003  Project cost of $177.5 million was shared by the State of California, the City of San José Redevelopment Authority, San José State University, and private fundraising
    7. 7. Planner / Developer The University of Pennsylvania
    8. 8. Penn in the early 90’s By the early 1990’s West Philadelphia and the University faced a multitude of problems – Crime – Migration to Center City – Alienation from community – Deteriorating neighborhood
    9. 9. …and moving forward By rediscovering its historic relationship with the City, Penn energized the full potential of its academic and institutional resources to both contribute to a great city and sustain a vibrant urban campus.
    10. 10. Building on a shared vision – Make neighborhoods safe and secure – Attract a year-round housing community – Develop destinations for shopping, dining, and entertainment – Invest in public education – Integrate the Campus into the urban fabric Penn, along with community partners, developed the West Philadelphia Initiatives to improve the University City neighborhood:
    11. 11. Mixed Use And Retail The University has embraced a strategy to attract a diverse mix of businesses to campus • University Square: 300,000 sf, $90 million mixed-use development composed of national retailers • 40th Street: a retail corridor connecting campus and community, built around a mix of local businesses, community amenities, international cuisine, and cultural and entertainment venues
    12. 12. Market Rate and Student Housing • Left Bank, $70 million • Domus, $100 million • The Hub, $23.5 million • 3900 walnut, $75 million
    13. 13. Commercial and Entertainment  The Bridge Cinema, $53 million  Translational Research Laboratory, $75 million  WXPN / World Café, $13 million
    14. 14. An Engine for Economic Growth Detroit Neighborhood Anchors, Detroit, Michigan
    15. 15. Context • Detroit needs a new strategy to address disinvestment and deteriorating socio-economic conditions • Foundations have assumed a leadership role in neighborhood sustainability and revitalization • Right-sizing will reduce the City’s footprint, requiring the identification of viable districts • Declining public, private, and philanthropic resources requires a more effective decision-making process • Despite such challenges, anchor institutions continue to exhibit stability and growth
    16. 16. HIGHER EDUCATION Wayne County Community College (Northwest Campus) College for Creative Studies University of Detroit - Mercy Marygrove College Wayne State University UDM School of Dentistry Wayne County Community College (Eastern Campus) Lewis College of Business WCCC (Downtown Campus) UDM School of Law
    17. 17. STUDENTS Total: 51,673 students ~300 2,756 4,652 31,016 ~3,500 ~3,500 ~3,500 736 1,358 355 Sources: University representatives & websites, IPEDS
    18. 18. HEALTHCARE Detroit Medical Center Henry Ford Hospital System Detroit Hope Hospital St. John Detroit Riverview Hospital DMC Sinai- Grace Hospital St. John Hospital & Medical Center St. John / Conner Creek Village
    19. 19. HOSPITAL BEDS Total: 3,379 beds 404 ~120 751 1,300 804 Sources: Hospital representatives and websites, American Hospital Association, U3 Ventures modeling
    20. 20. EMPLOYMENT Total Direct Employment: 36,200 Employees 2,432 ~720 8,045 450 5,036 ~90 204 ~720 8,115~230 ~230 ~230 ~110 9,532 ~60 Sources: Hospital & University representatives and websites, IPEDS, American Hospital Association, U3 Ventures modeling
    21. 21. OPERATING BUDGET Total Direct Expense: $6.4 Billion $331 ~$127 $1,740 $33 $508 _~$2 $34 $84 $2,060~$20 ~$10 $1,276 ~$6 ~$20 ~$20 Sources: Hospital & University representatives and websites, IPEDS, American Hospital Association, U3 Ventures modeling
    22. 22. STUDENT RESIDENTIAL CAPTURE • Analyzed three institutions: –Marygrove College –University of Detroit – Mercy –Wayne State University Students Employees Total Number 39,094 2,725 % living in Detroit 34% 30% % living 1 mile from Campus 13% 9% • Over 32,000 students and employees living outside of Detroit • Represents $211 million in discretionary income leaked outside city limits
    23. 23. GOODS AND SERVICES PURCHASED • Anaylzed three major Detroit anchors: –Wayne State University –Detroit Medical Center –Henry Ford Hospital • All goods and services purchased: $1.8 Billion • Purchased in Detroit: $257 Million • 84% of all purchases leaked outside of Detroit
    24. 24. HIGHER EDUCATION
    25. 25. REGIONAL POPULATION (July 1, 2005) RANK 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Source: Impact of Higher Education in Greater Philadelphia by Select Greater Philadelphia (2007)
    26. 26. TOTAL ENROLLMENT (2005/06) RANK 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Source: Impact of Higher Education in Greater Philadelphia by Select Greater Philadelphia (2007) – Derived from IPEDS
    27. 27. BACHELOR’S DEGREES OR HIGHER AWARDED (2004/05) RANK 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Source: Impact of Higher Education in Greater Philadelphia by Select Greater Philadelphia (2007) – Derived from IPEDS
    28. 28. R&D FUNDING PER STUDENT (Federal, State and Local, Industry, and other, in millions – 2005/06) RANK 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Source: Impact of Higher Education in Greater Philadelphia by Select Greater Philadelphia (2007) Derived from National Science Foundation
    29. 29. CORE EXPENDITURES PER STUDENT (University operating expenses in millions 2005/06) RANK 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Source: Impact of Higher Education in Greater Philadelphia by Select Greater Philadelphia (2007) – Derived from IPEDS & Surveys
    30. 30. % OF STUDENTS FULL-TIME (2005/06) RANK 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Source: Impact of Higher Education in Greater Philadelphia by Select Greater Philadelphia (2007) – Derived from IPEDS
    31. 31. HEALTHCARE 912,000 1,950,000 4,425,000 10,000,000 City of Detroit Wayne County Detroit Metro Michigan 9% of Michigan's Population Population Source: Detroit Medical institution Representatives; American Hospital Association
    32. 32. 3,379 5,212 10,720 25,540 City of Detroit Wayne County Detroit Metro Michigan HEALTHCARE Hospital Beds 13% of Michigan's Hospital Beds Source: Detroit Medical institution Representatives; American Hospital Association
    33. 33. 25,900 34,700 67,130 164,300 City of Detroit Wayne County Detroit Metro Michigan HEALTHCARE Hospital Employees 16% of Michigan's Hospital Employees Source: Detroit Medical institution Representatives; American Hospital Association
    34. 34. $4,275 $5,510 $9,825 $21,200 City of Detroit Wayne County Detroit Metro Michigan HEALTHCARE Operating Budget (in millions) 20% of Michigan's Hospital Budget Source: Detroit Medical institution Representatives; American Hospital Association
    35. 35. EXAMPLE: MIDTOWN ANCHOR DISTRICT Detroit: Midtown Pittsburgh: Oakland Cleveland: University Circle Indianapolis Canal District
    36. 36. EXAMPLE: MIDTOWN ANCHOR DISTRICT INPUTS Ed’s 12,451 40,80532,300 70% Med’s 485,404 536,180524,533 77% Culture 550,000 1,800,000 100% OUTPUTS Population 5,231 22,45819,285 82% Density 6,750 26,0008,600 10% Income $21,500 0% 30,100 Age 36 0% 23 Education 30% 0% 63%
    37. 37. RECOMMENDATIONS • Within the anchor districts, programs to “ live, buy and hire local” should be initiated and institutionalized – definition, sizing and institutionalizing of local programs within each anchor – creating a sustainable structure to collaborate between anchors – provide an infrastructure of support through CDCs to meet the demand generated by Local Programs • Anchor district projects must be managed and coordinated holistically – institutional changes – physical interventions – comprehensive set of support services • Midtown has the greatest potential to redefine Detroit with eventual economic benefit for all neighborhoods
    38. 38. Leveraging Local Impact • Live Local, Buy Local, Hire Local • Creating desirable neighborhoods • Increasing economic impact – 7% of total vendors from Detroit – 16% of dollars spent with vendors from Detroit • Increasing capture in Detroit means – $28 million with 10% increase – $71 million with 25% increase – $142 million with 50% increase
    39. 39. Conclusion Engaged anchors form a strong and mutually beneficial bond with neighborhoods and cities  For the anchor, engagement  helps produce more enlightened community  enhances the opportunity for “real and impact-ful” institution  provides greater opportunity to disseminate its intellectual discourse to the public  For a City, an engaged institution  anchors a neighborhood providing a long term and sustainable employer, developer and citizen  creates a unique district that integrates academic life in the public realm

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