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Appendix B. Howard’s Development Guidelines
Howard University is transforming its administrative, academic, and administering its economic interest over the life of the
financial structures to address the needs of its students in the 21st ground lease, therefore overly complex deal structures,
century. A key pillar of the universities planned improvements rely ownership structures, and participation are discouraged
on diverse, predictable revenue stream, in part funded by Howard’s
significant, valuable real estate holdings. The University is currently Economic value to Howard
executing a real estate strategy to capture value from its assets, - HU must obtain FMV for the ground lease supporting all
largely by partnering with private sector parties. To protect development
university interests and set expectations with potential partners - HU must receive additional value/benefits in exchange for any
Howard developed the guiding principles below for negotiating sole-sourced/non-competitive transaction (e.g., premium pricing,
with real estate development entities.
ancillary profit opportunities, etc.)
Planning and development approach - HU must safeguard the integrity of any sole source transaction
- Parties jointly recognize and promote that this effort builds upon by protecting against windfall profits through gross revenue
the University’s new and evolving model for University participation and participation in liquidity events
Development - HU provides NO direct or indirect economic subsidy towards the
- Planning/Development Partner commits to delivering on HU’s construction and operation of any commercial development
vision represented in the Campus Master Plan as well as any components
emerging HU vision, objectives, and strategy for the subject area Link to Howard mission and values
and corridor
- Planning/Development Partner must demonstrate diversity on
- Planning/Development Partner to present options and the development team
opportunities for consideration by HU. HU has final approval over
the final development plan for the subject area - Planning/Development Partner must demonstrate a
commitment to coordinated community engagement in
- A cohesive approach to optimize value -- HU branding and conjunction with HU
programmatic integration to be prominent throughout the subject
area and corridor - Planning/Development Partner must demonstrate a
commitment to Inclusionary Zoning and/or other HU oriented
- Dedicated Pre Development team consisting of Planning/ housing programs that promote affordability
Development Partner and HU representatives to collaborate on the
development plan prior to HU approval - Planning/Development Partner to collaborate with HU on
potential acquisition and development opportunities that are
Timing and risk sharing strategic and economically feasible
- HU prefers to receive fair market value (FMV) upfront and require - Development proposals must have a linkage to and create
Planning/Development Partner to assume all market and sustainable value to HU’s academic mission (e.g., enhances
development risk opportunities and quality of life for HU students, faculty, staff,
- HU wants to simplify the requirements for managing, monitoring, and brand)
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