WSSU Foundation acquires property for future growth, expansion of land area
The Winston-Salem State University (WSSU) Foundation is pleased to announce the acquisition of 42 acres of property, marking a significant step in advancing the university’s commitment to fostering student success and enabling future growth.
The property, purchased for $7.5 million, is located at 2900 Reynolds Park Road, Winston-Salem. The acquisition aligns with WSSU’s long-term master plan, designed to support expansion and accommodate growth and development. Currently, the university’s 110-acre main campus on Martin Luther King Jr. Drive is landlocked.
“This acquisition by the Winston-Salem State University Foundation represents a bold step forward,” said WSSU Chancellor Bonita Brown. “The integration of this land into our master plan ensures that WSSU continues to lead in driving progress while planning for sustained growth and success.”
The newly acquired property will be repurposed to meet the various needs of the university and align with a broader strategy to address housing insecurity. Research has shown that students with stable housing are more likely to persist through academic challenges and complete their degrees on time.
“We will thoroughly explore optimal utilization of this property, which may include student housing or other academic space needs. We want to ensure we leverage this property in a way that best serves the long-term needs and growth of the college,” Brown said.
“The purpose of the Winston-Salem State University Foundation is to foster and promote the growth, progress, and well-being of the university,” said Marcus Cox, Foundation president. “This purchase aligns with our mission of supporting the long-term needs of the institution by unlocking new opportunities for revenue diversification. We are also pleased to announce that this acquisition increases the university’s land area by one-third.”
The property includes 11 residential apartments, all of which are currently occupied. “The Foundation is dedicated to honoring these existing leases, ensuring the residents feel supported and valued as we thoughtfully develop the master plan for this exciting new chapter,” Cox said.
For more details on the property acquisition, please contact Kimberly Harrington at harringtonkd@wssu.edu.
Frequently Asked Questions
Q: Who purchased the property at 2900 Reynolds Park Road?
A: The Winston-Salem State University Foundation purchased the property, which encompasses 42 acres and includes 11 residential apartments, for $7.5M. The Foundation is a private, non-profit organization that operates independently of the university for the sole purpose and benefit of the university. It is governed by a Board of Directors.
Q: What will the property be used for?
A: The property will be integrated as an asset into the long-term master plan of the university. It will be repurposed for best uses to include, but not limited to, student housing for traditional, non-traditional and graduate students.
Q: Are their residents currently living at the newly-purchased property?
A: Yes, there are residents still residing at the property and all existing leases will be honored. The Foundation will ensure that the residents feel valued and as an integral member of the “Ramily” throughout the process to make this transition seamless.
Q: Who will manage the property?
A: Winston-Salem State University will manage the property and will be responsible for the daily maintenance. During business hours, residents may contact Joyce McMillan at (336) 750-2857 or Ronald Beverly at (743) 649-0689. For after-hours requests, residents may call (336) 750-2858.
Q: Did the funding used to acquire the property diminish resources for student scholarships?
A: No. Scholarship funds are specifically designated and cannot be used for other purposes. The funds used for this purchase were discretionary funds that are more flexible and intended to further the university’s mission.
Q: What is the benefit of this acquisition to the college?
A: This purchase shapes the future of the college for the next 100 years as a driver of progress and community engagement and investment in East Winston-Salem. It expands the land area of the college by one-third. The main campus is currently landlocked as all abutting property is not available for sale or purchase.
About the WSSU Foundation: In 1970, the Winston-Salem State University Foundation, Inc. was established as a private, non-profit organization that focuses on the long-term needs of the university and enhances the efficiency of its fundraising efforts. The two entities operate independently. The Winston-Salem State University Foundation’s Board of Directors comprises local community members, alumni and university administrators. The board oversees how the foundation raises money, invests donations and distributes grants, of which WSSU is the sole beneficiary. It also advises and supports other activities of the foundation designed to further the interests of WSSU.
About Winston-Salem State University: Winston-Salem State University fosters the creative thinking, analytical problem-solving, and depth of character needed to transform the world. Rooted in liberal education, WSSU’s curriculum prepares students to be thought leaders who have the skills and knowledge needed to develop innovative solutions to complex problems. Founded in 1892, WSSU is a historically Black constituent institution of the University of North Carolina with a rich tradition of contributing to the social, cultural, intellectual, and economic growth of North Carolina, the region, and beyond. Guided by the motto, “Enter to Learn, Depart to Serve,” WSSU develops leaders who advance social justice by serving the world with compassion and commitment.
