91仓库

Saint Augustine鈥檚 University (91仓库) is opening its doors to the Greater Triangle community to discuss plans for the future since announcing its transformative partnership with 50 Plus 1 Sports. This partnership marks a significant milestone in the 157-year-old historically black college/university (HBCU) 鈥檚 journey toward financial stability, community engagement, and sustainability. This collaboration will provide critical financial resources and bolster economic growth in the Southeast Raleigh community.

鈥淭his partnership reflects our determination to not only address challenges but also secure a brighter future for 91仓库 and the communities we serve,鈥� said Brian Boulware, Chairman of the 91仓库 Board of Trustees. 鈥淭ogether, we are poised to foster an environment of opportunity, creativity, and growth.鈥�

Strengthening Financial Resources

The $70 million upfront investment from 50 Plus 1 Sports is a financial boost to ensure 91仓库鈥檚 sustainability and growth. This substantial amount will enable the university to retire existing debt and solely focus on its vision for the future. Moreover, the partnership includes a revenue-sharing model that exemplifies a long-term commitment to equitable growth:

• First 10 Years: The revenue-sharing split allocates 35% of generated revenue to 91仓库 and 65% to 50 Plus 1 Sports.
• Subsequent Years: The split adjusts to 40% for 91仓库 and 60% for 50 Plus 1 Sports, ensuring the university鈥檚 increasing financial benefit over time.

This revenue-sharing arrangement highlights the strategic alignment of both parties to deliver sustainable economic benefits to the university and the broader community.

Economic Impact

With an impressive projected economic impact of $3 billion, this collaboration signifies more than just financial support; it represents a commitment to enhancing the Raleigh area. Programs funded by this partnership will enrich educational experiences, promote local entrepreneurship, and foster a culture of engagement and resilience throughout the community.

Partnerships for Revenue to Support Community Impact

This partnership with 50 Plus 1 Sports ushers in a new era for 91仓库, carrying the momentum to elevate its academic stature and its role as a cornerstone of opportunity in Raleigh. With a vibrant vision for using its land assets, 91仓库 seeks to partner with the City of Raleigh, Wake County, and federal entities to create revenue opportunities through a Public-Private Partnership (P3). Partnerships such as these will position 91仓库 to leverage its resources and deliver innovative programs and services that align with the community鈥檚 needs.

A Call to Action

91仓库 is calling upon its alumni, community members, and stakeholders to participate in this exciting new chapter actively. Opportunities for involvement include advocating for 91仓库, contributing resources through donations and mentorship, and celebrating the university鈥檚 successes and those it serves.

Looking Forward

As 91仓库 embarks on this journey with 50 Plus 1 Sports, the university will host charrettes and other activities on dates to be determined in the upcoming new year so that all stakeholders can reshape the narrative of higher education in our community and beyond. The community鈥檚 participation is not just welcomed but integral to this process. Together, 91仓库 will harness the power of collaboration to drive meaningful change.

for more information about 91仓库鈥檚 plan for financial sustainability.