University of Maryland
Since 2009, U3 Advisors has served University of Maryland in College Park, advising on a variety of real estate and community engagement initiatives. Cumulatively, the strategies have led to the University forming a stronger working relationship in College Park, and laying the groundwork to transform the Downtown into a vibrant college town district.
As real estate advisors to UMD, our work has included:
- UMD Real Estate Strategy: U3 Advisors created a real estate strategy for the University that synthesized the University’s Strategic Plan, the Facilities Master Plan, and CPCUP Vision. We analyzed the internal institutional drivers that have real estate implications (housing, research, student life) and reconciled these against the market dynamics that prevailed in College Park. The strategy identifies a key east-west linkage from the campus core through the Metro to M Square hinges on Downtown as the critical juncture for redevelopment.
- Hotel and Conference Center Development: U3 Advisors led the site and developer selection process for a University-affiliated hotel and conference center. We helped define the desired program, drafted the solicitation, and identified potential developer respondents to build and operate a University affiliated hotel. With the site and developer in place, the University is targeting groundbreaking in 2016.
- Downtown Redevelopment Implementation: U3 Advisors is managing the University’s downtown redevelopment efforts that have led to the University and Foundation directly controlling or coordinating the development of 12 acres in the Downtown area. U3 Advisors is responsible for valuing real estate, assessing the market for future uses, negotiating with landowners, and coordinating amongst the University, Foundation, political leadership, and existing landowners.
- Vision for College Park 2020: The College Park City Community Partnership (CPCUP) is a shared non-profit between the University, College Park, and Prince George’s County that was set up to lead joint initiatives. With CPCUP as the client, U3 Advisors created a shared vision for College Park and implementation plan that identifies specific initiatives focused on housing, transportation, education, sustainability, and safety.