U3 Advisors was engaged by the Hyde Family Foundations beginning in 2014 to understand the economic and physical impact of eight major anchor institutions in the Memphis Medical District including Baptist College of Health Sciences, Memphis Bioworks Foundation, Methodist/LeBonheur, Regional One Health, Southern College of Optometry, Southwest Tennessee Community College, St. Jude Children’s Research Hospital/ALSAC, and the University of Tennessee Health Science Center. Together, these anchors employ 16,000 people, educate 8,000 students, have $1.2 billion in collective purchasing, and control 250 acres of property. U3 Advisors found that despite the significant size of these anchors, their potential impact within the Medical District has not been fully realized.
U3 Advisors spent three years in Northwest Detroit planning and launching an anchor strategy in partnership with University of Detroit Mercy (UDM) the Kresge Foundation. The Live6 Alliance launched in September, 2015 as a new entity focused on the commercial corridors surrounding the UDM campus that are severely disinvested, but could potentially support the diverse surrounding neighborhoods and improve quality of life for residents. The strategy includes focusing on real estate development, placemaking, business attraction and retention, community engagement, and safety.
U3A was engaged by the Brooklyn Public Libraryto complete a strategic plan for its 58 branch libraries, which occupy a physical plant of nearly 750,000 square feet. U3A and its team completed a comprehensive review of all of the Library’s facilities as to their physical condition, programmatic success, and potential for redevelopment or public/private partnership. Based on this assessment, U3A and its team identified, analyzed, and recommended potential options to meet the Library’s long-term needs. U3A is currently working with the Library to implement the preferred strategy.