Metro Jacksonville

Community => Business => Topic started by: RattlerGator on December 18, 2015, 09:44:40 PM

Title: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: RattlerGator on December 18, 2015, 09:44:40 PM
Kudos to President John Thrasher for securing a phenomenal $100 million philanthropic gift for Florida State University. FSU plans to use it as a key component in their plan to add life to downtown Tallahassee:

http://jacksonville.com/news/florida/2015-12-18/story/florida-state-university-receives-100-million-donation

QuoteThe money will be used to establish in downtown Tallahassee the Jim Moran School of Entrepreneurship, an expansion of an institute on the main campus named for Moran.

* * * * *

Thrasher, who called the gift "transformational," said FSU is in the process of finalizing a contract for space downtown and the location of the Moran School of Entrepreneurship will be announced later.

Great news for FSU, but there's this:

QuoteThe Jim Moran Foundation, founded in 2000, has to date invested more than $60 million in initiatives in "education, elder care, family strengthening and youth transitional living initiatives," according to the organization, which says its efforts are focused on Broward, Palm Beach and Duval counties.

What, pray tell, has UNF done to court these folks with a stated purpose to invest in Duval County? While I'm pleased this donation will benefit my adopted town, that type of a donation, one enabling FSU to establish a SERIOUS downtown presence in Tallahassee, could be far more transformational in a place like Jacksonville.

Why can't UNF secure something like this for downtown Jacksonville ? ? ? Even if it means partnering with FSU or UF or whomever, why isn't this far more of a focus at UNF ? ? ?
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: tufsu1 on December 18, 2015, 10:15:51 PM
the article's comparison of FSU's downtown expansion to those of USF and UCF is really poor.  Each of those schools are 10+ miles from their city's downtown.  Meanwhile, FSU's campus pretty much borders downtown Tallahassee.  In fact, there is a plan to build a new business school near the Tucker Center (the basketball arena), and I would not be at all surprised that the Moran School becomes part of that complex.  For those that don't know, the arena is 2 blocks off campus and the FSU Law School sits just across the street from it.
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: Tacachale on December 19, 2015, 09:02:07 AM
It's hard to compare donations to the big football-having schools to the "directional" universities. $100 million would be nearly the total amount of our biggest multi-year fundraising drives, and this is just one family in one year. That said, we do very well with fundraising for our size.

As for Downtown, like TUFSU1 says, Downtown Tallahassee really isn't far from the main campus. There are probably parts of the main campus that are as far from each other as Downtown is from the main campus. The campus is also essentially "landlocked" and has no more growth opportunity. Barring some unforeseen development, UNF isn't going to add another downtown element besides MOCA Jax anytime soon. The focus now is building up the main campus. I think it'll happen one day, but we're not going to do anything that detracts from the main campus right now.
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: spuwho on December 19, 2015, 01:06:32 PM
I would assume Thrasher developed a relationship with the foundation during his political career in NE Florida.
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: CityLife on December 19, 2015, 02:24:29 PM
A few things related to this.

-FSU has had the Jim Moran Institute for Global Entrepreneurship since 1995. I believe the Moran family has donated close to $10 million to FSU prior to this.

-This has been in the works for a long time, prior to John Thrasher's tenure at President, though he deserves a lot of credit for sealing the deal and executing everything.

-There is also another large donation being worked on by FSU for naming rights to the business school. I believe in the $30-$50 million range. Along with that, there are a couple billionaire and several multi-millionaire alums that are also poised to make large donations in the coming years. As TUFSU said, FSU is moving its business school near its arena, which is next to the law school and between downtown and campus. There will be a lot synergy between the schools of entrepreneurship, business, and law. Not to mention the energy in the Gaines Street Corridor.

Tallahassee has made significant capital investments in the Gaines Street Corridor and at Cascades Park (near its downtown). While FSU has made significant redevelopment efforts of its own, with the creation of College Town and plans to create an "arena district" (See link below). Its no surprise to see major donors like this respond, along with the significant amount of private investment that has been occurring.

https://tuckercenter.fsu.edu/
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: RattlerGator on December 19, 2015, 03:40:04 PM
Tacachale, that's a very disappointing response but I hear ya, I hear ya. I am curious, however: has UNF ever *sought* a donation from the Moran Foundation and has UNF ever *received* a donation from them -- do you have any idea ???
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: Tacachale on December 19, 2015, 05:07:39 PM
Quote from: RattlerGator on December 19, 2015, 03:40:04 PM
Tacachale, that's a very disappointing response but I hear ya, I hear ya. I am curious, however: has UNF ever *sought* a donation from the Moran Foundation and has UNF ever *received* a donation from them -- do you have any idea ???

I don't know about that foundation specifically but the Moran family and their businesses have given to UNF. I know they created an endowed scholarship in Coggin College of Business.
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: RattlerGator on December 20, 2015, 06:55:44 AM
Thanks. They're paying that $100 million donation out over the course of 20 years. You sound like UNF is dead-set against trying to do something major in downtown Jacksonville which is sheer stupidity from my vantage point. If that foundation is willing to invest that kind of money in Leon County -- which (unlike Duval) isn't a primary county for the foundation -- maybe UNF should be pushing for a similar donation here for a location downtown.

You know . . . demonstrate some entrepreneurial thinking from our local public university? Maybe Mark Dawkins needs to help the Coggin College of Business do a 180 degree turn? To hell with a minor in Entrepreneurship when perhaps you could aspire to develop an entire School of Entrepreneurship in an urban setting that allows you to naturally build on your [1] international business and [2] logistics flagship programs. One thing is for certain: a penny-ante approach will never get you major money.

Just a thought. #SwoopCity
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: thelakelander on December 20, 2015, 08:49:42 AM
The purpose of the foundation doesn't sound like it's for downtown development.  Even if UNF got that kind of money, it's probably more likely it would be invested in the main campus instead of DT Jax.
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: Tacachale on December 21, 2015, 12:19:34 AM
I imagine that downtown development is at most a secondary goal for FSU behind beefing up this School of Entrepreneurship. FSU's traditional main campus is more or less built out with no further growth opportunities, so it makes sense for them to expand elsewhere. Downtown Tallahassee is only about a mile away. As tufsu1 said before, this is different even than the other big schools like UCF and USF that have established downtown satellites. For those schools, the downtown branches are one of several satellite units across their region, that allow them to reach (and draw tuition from) a wider range. I don't see UNF going down that path, at least not for a long time. The vision here is to continue building up our main campus and programs. It's easy to forget, but the majority of campus is less than 10 years old.
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: thelakelander on December 21, 2015, 06:39:57 AM
Comparing the distance in smaller places like Tally with those in major cities is difficult to do. Downtown Tallahassee seemed like a two or three block walk from FSU's law school, from what I recall. That law school was a pretty short distance away from the main campus too. Even from the main campus, the few blocks between were filled with frat houses and apartments.  Heck, you might as well say, FSU's campus is pretty much downtown. It's closer to downtown Tally than FSCJ is to the Landing.
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: mbwright on December 21, 2015, 12:06:42 PM
I agree.  The west end of campus is not really down town, but the east side really is only a few blocks off of Monroe.
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: RattlerGator on December 21, 2015, 09:04:50 PM
You know, for a board with such a huge dedication to the urban core it's genuinely amazing how singular the comments are on this subject not just for a foundation that has contributed money for our central performing arts facility (that was downtown development, was it not?) but also has Duval County as a primary focus. Something Leon County is not.

And maybe y'all aren't up to speed on FSU's "Madison Mile" concept but, yes: they've made it a major priority to create an entertainment and lifestyle district that runs from their football stadium east to the edge of the Capitol. Their massive new College of Business going up next to the Civic Center and this new School of Entrepreneurship probably locating in the same area are huge parts of this economic development strategy driven by FSU, along with their "College Town" district next to the stadium.

UNF ignoring this aspect of its civic responsibility is reminiscent of some Duval County folks saying (in the days before UNF) that J.U. and U.F., along with FJC, satisfied the higher education needs of Northeast Florida. That was absurd then and, to me, UNF's lack of presence downtown today is also absurd.
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: fieldafm on December 22, 2015, 08:35:09 AM
QuoteUNF ignoring this aspect of its civic responsibility

I think this statement drives to the crux of the issue. Investing in downtown Jacksonville needs to happen because the climate is attractive for investment.

Downtowns (and neighborhoods in general) don't work when a few people are shamed into directing money towards a certain location due to 'civic duty'. Having some rich person write a few checks doesn't magically fix things.

College Town, btw, is a private development project (not funded by FSU). The rejuvenation along the Gaines Street corridor was driven largely by the City of Tallahassee creating the necessary infrastructure, the FSU Alumni Association (that's all private money, which completed two capital issues-both of which have been profitable to investors) and other private investment groups investing money into an area where there was a really attractive investment opportunity given the level of support from many levels of govt agencies, millions in public infrastructure investment and proximity to a large university and large employment base (not to mention the historically significant shift in money flowing towards multifamily developments). It took about 15 years to get to where Gaines Street is today, and many.... many people and layers came together to make it happen. Personally, Gaines is a pretty great model to compare with Park Street in Jacksonville's Brooklyn neighborhood. The parallels as to why Gaines has worked while Brooklyn hasn't attained the same level of redevelopment over pretty much the exact same timeline are pretty distinct.
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: thelakelander on December 22, 2015, 09:07:00 AM
Hmm, Park Street verses the Gaines Street corridor?  This would be a very interesting comparison of compatible corridors.
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: CityLife on December 22, 2015, 09:58:29 AM
Quote from: RattlerGator on December 21, 2015, 09:04:50 PM
You know, for a board with such a huge dedication to the urban core it's genuinely amazing how singular the comments are on this subject not just for a foundation that has contributed money for our central performing arts facility (that was downtown development, was it not?) but also has Duval County as a primary focus. Something Leon County is not.

The Moran Foundation is looking at this from a much broader perspective than you are. Their aim is to foster entrepreneurship in the state of Florida. Not improve a singular downtown.  FSU has many students from Duval, Broward, and Palm Beach Counties (where the Moran Foundation is focused on). Those three counties make up 21% of the state population and send a disproportionate amount of students to large state schools. FSU's student body is probably made up of about 25-40% students from those three counties, which would be around 10,000-16,000. Likely a higher number than UNF has from the same three counties.

UF is the only other public university in the state with the institutional capacity and programs to turn a donation like this into a major economic driver for the entire state. Fortunately for FSU, there are strong ties with the Moran family and they didn't have to compete with UF for it. UNF wouldn't have even been considered, as the donation is larger than UNF's entire endowment. For some perspective, FSU's endowment is larger than UCF, UNF, FAMU, UWF, FGCU, and New College combined. FSU's endowment will also make a huge jump in the next couple years, with a 1 billion capital campaign occurring (750 million already raised).

Rattler, I agree that Tallahassee and FSU's redevelopment efforts have made it a more desirable market for investment and donations like this. However, UNF's niche within the state university system is as a coastal university, imo. My anecdotal evidence tells me that 50-75% of out of metro area students come from the coastal counties between Palm Beach and Volusia. Its the surf/beach school in the SUS. I would wager a substantial amount of money that if you polled UNF's student body, they would prefer a Jax Beach campus over a DT Jax campus. As DT Jax (and surrounding areas) keep improving, I think you will see a stronger desire from UNF to establish a presence DT, but right now its not there. UNF's administration and leadership know their niche and market better than anyone, and when they know its a sound move to invest in Downtown, I'm sure they will.

If anyone should be taking flak, its COJ for being behind the 8 ball.
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: Tacachale on December 22, 2015, 10:08:55 AM
Quote from: fieldafm on December 22, 2015, 08:35:09 AM
QuoteUNF ignoring this aspect of its civic responsibility

I think this statement drives to the crux of the issue. Investing in downtown Jacksonville needs to happen because the climate is attractive for investment.

Downtowns (and neighborhoods in general) don't work when a few people are shamed into directing money towards a certain location due to 'civic duty'. Having some rich person write a few checks doesn't magically fix things.

College Town, btw, is a private development project (not funded by FSU). The rejuvenation along the Gaines Street corridor was driven largely by the City of Tallahassee creating the necessary infrastructure, the FSU Alumni Association (that's all private money, which completed two capital issues-both of which have been profitable to investors) and other private investment groups investing money into an area where there was a really attractive investment opportunity given the level of support from many levels of govt agencies, millions in public infrastructure investment and proximity to a large university and large employment base (not to mention the historically significant shift in money flowing towards multifamily developments). It took about 15 years to get to where Gaines Street is today, and many.... many people and layers came together to make it happen. Personally, Gaines is a pretty great model to compare with Park Street in Jacksonville's Brooklyn neighborhood. The parallels as to why Gaines has worked while Brooklyn hasn't attained the same level of redevelopment over pretty much the exact same timeline are pretty distinct.

Gaines Street also benefits from the fact that Tennessee Street (where a lot of the bars and restaurants are) is a dangerous game of Frogger for residents of the FSU and FAMU campus, and the city and colleges know it. There's also too little off-campus housing that's walkable to either campus and Tallahassee's transit system sucks (compared to say, Gainesville, where there's a lot of student-oriented housing close to campus and the bus system is quite good for a city that's even smaller than Tallahassee). I imagine that helps FSU's commitment to Gaines Street as it will almost certainly be a boost on all those accounts.

I had hoped Park Street could have become something similar, but it seems like it will all be replaced in the next few years by developments like 220 and Brooklyn Riverside. They're great and all, but they're not as pedestrian oriented as they could and should be, and replacing perfectly usable urban warehouses with another strip mall like Brooklyn Station would be a step backward.
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: RattlerGator on December 22, 2015, 05:05:34 PM
Quote from: CityLife on December 22, 2015, 09:58:29 AM

The Moran Foundation is looking at this from a much broader perspective than you are. Their aim is to foster entrepreneurship in the state of Florida. Not improve a singular downtown.

I'm not just thinking from a Downtown Jax perspective either but I understand and accept your point

QuoteUF is the only other public university in the state with the institutional capacity and programs to turn a donation like this into a major economic driver for the entire state.

The people at USF would certainly take issue with this. Their College of Business is just about as big as FSU's, has a Grad School entrepreneurship program that it claims (I know, I know -- CLAIMS!) is number one in the entire Southeast, but what isn't questionable is the fact that USF already pulls in at least $100 million more annual research dollars than does FSU ($300+ million as opposed to $200+ million). I only mention this because (to me) USF, among our state universities, is in something of the same position of Jacksonville among our urban areas -- far too easily overlooked and underestimated. Slighted, even (and yes, it would help if that university had an accurate name; Tampa is *not* South Florida, it's West Central Florida, and that school would probably be better off known as the University of Tampa Bay).

QuoteRattler, I agree that Tallahassee and FSU's redevelopment efforts have made it a more desirable market for investment and donations like this.

Point taken. Except for this one caveat: Seminole Boosters, Inc. is driving that train; very little of that development happens, in my estimation, without Seminole Boosters, Inc. making a conscious decision to make it happen. I know UNF has nothing comparable to Seminole Boosters, Inc. but that simply highlights the need -- IMHO -- for the UNF administration (rather than an athletic support entity like Seminole Boosters, Inc.) to make a similar conscious decision. Make the decision, show some leadership, go find the philanthropists and foundations who will help you bring it into fruition.

QuoteHowever, UNF's niche within the state university system is as a coastal university, imo. My anecdotal evidence tells me that 50-75% of out of metro area students come from the coastal counties between Palm Beach and Volusia. Its the surf/beach school in the SUS. I would wager a substantial amount of money that if you polled UNF's student body, they would prefer a Jax Beach campus over a DT Jax campus. As DT Jax (and surrounding areas) keep improving, I think you will see a stronger desire from UNF to establish a presence DT, but right now its not there. UNF's administration and leadership know their niche and market better than anyone, and when they know its a sound move to invest in Downtown, I'm sure they will.

Their niche. Hmmmmm . . . it may simply be semantics but it seems to me UNF's leadership made a conscious decision to reject the big state university model of growth for the sake of growth (Hello, UCF) and decided to focus more on stability and quality. I can't take issue with that. I just don't see why a downtown presence can't go hand-in-hand with that strategy.

I'm still holding out hope that perhaps UF and UNF could jointly partner with a big dormitory building on the southbank in "The District" or somewhere in Center City. The apparent UNF decision to be strictly suburban seems incredibly short-sighted. There is a serious day of reckoning coming for higher education in this nation. A contraction. When that happens, and it's likely to happen suddenly, a downtown presence will become far more important. UNF seems to be caught in an intellectual bubble, thinking the current course of events will continue unabated. It won't, and for their own well being they'd better start exhibiting some (urban) forethought.
Title: Re: $100 Million to FSU but . . . what about UNF ? ? ?
Post by: RattlerGator on December 24, 2015, 07:25:29 AM
So . . . UNF *has* been thinking in this direction!

http://www.bizjournals.com/jacksonville/news/2015/12/23/unf-eyeing-brentwood-building-for-entrepreneur.html

QuoteThe University of North Florida is exploring the possibility of placing a entrepreneurial center just north of the Martin Luther King Expressway and east of Main Street, according to a dean in the business college.

Florida Rock Properties owns the property, 155 E. 21st Street, that is being leased by Vulcan Materials.
Mark Dawkins, a Dean at the Coggin College of Business, said Vulcan representatives approached the college sometime in October about taking over the companies remaining 10 year lease.

Straddling the edge of Brentwood and Springfield, this places UNF where it *has* to be; squarely within the old city limits. What should creatively follow this initiative (presuming it does happen) is a move to build a downtown dorm. Theoretically, it could be a partnership between UNF and UF. In actuality, it wouldn't have to be built by either university.

http://www.washingtontimes.com/news/2014/nov/2/new-uf-dorm-will-be-innovative/?page=all

Much, much more of that Moran Foundation money needs to be coming to Duval County. This project could be the impetus to make that happen.