Howard University will invest $785 million to build three new academic buildings and renovate other campus buildings in what it calls its largest construction real estate initiative in the school’s history.
Howard, which has received record-breaking philanthropic giving and Wall Street’s blessing for a strong financial position, calls this expansion a watershed moment.
“Because of the tremendously enhanced financial posture we have worked so hard to achieve, the state of the University has never been stronger,” said president Wayne A. I. Frederick.
Howard University had record-breaking fundraising totals last year, with $170 million in philanthropic contributions in fiscal 2021. The university has also raised $120 million in gift commitments so far this fiscal year. In February, Fitch and Standard & Poor’s raised their ratings on $300 million in Howard-issued bonds from stable to positive.
It will be the first time Howard has constructed new buildings on its D.C. campus since 1984. New construction will account for $670 million of the new investment.
The buildings include:
- A new Health Sciences Complex for its College of Medicine, College of Dentistry, College of Pharmacy and College of Nursing;
- A new Center for Arts and Communications, housing its Boseman College of Fine Arts and the Cathy Hughes School of Communications, including new studios for its radio and TV stations; and
- A new STEM Center, housing coursework in physics, chemistry, biology, engineering, mathematics and associated labs.
Howard will pursue naming right opportunities for all three buildings in the coming months. The new construction projects are expected to be completed in 2026.
The balance of the investment will go toward renovating existing structures, including the historic Myrtilla Miner Building, prominently on Georgia Avenue, that will house the School of Education and the Howard University Middle School for Mathematics and Science.