Investment will help South Florida’s only HBCU secure independent real estate expehise as it works to grow enrollment and turn its land development as a lasting source of institutional strength.
By William McCormick, MBA
MIAMI GARDENS, FL — Florida Memorial University (FMU) today announced funding from Knight Foundation to secure independent real estate development advisory services as the university negotiates a redevelopment agreement for portions of its 62-acre Miami Gardens campus.
The grant will fund advisory from Hayat Brown, an independent real estate development advisory firm, to help FMU evaluate land development proposals and negotiate an operating agreement that reflects fair value for its land while protecting the university’s long-term institutional interests.
FMU is anticipating Fall 2026 enrollment to surpass 1,700 students and has a vision of growing to 5,000, a scale that will require significant new housing capacity and campus infrastructure. The proposed redevelopment, which includes student housing, workforce housing and athletic facilities, is intended to both support enrollment growth and diversify university revenue beyond tuition,
Knight Foundation’s support reflects a broader understanding of what campus real estate means for an institution like Florida Memorial University, whose land assets carry long-term value not only for the university but for the surrounding community, Those assets can help meet pressing needs such as student housing, but only when institutions move carefully, on fair terms, and with a long-term view toward preserving that value. Funding will help FMU pair an urgent need with rigorous, independent advice, protecting the university’s long-term interests while reinforcing its importance as a community anchor in Miami Gardens.
“Florida Memorial University’s campus is more than real estate, it’s a legacy asset built by generations of students, faculty and alumni,” said Francesca de Quesada Covey, Vice President of Community Impact at Knight Foundation. “As HBCUs across the country navigate real financial pressures, this work shows how an anchor institution can treat its land like an endowment, using it to meet an urgent need like student housing without giving away the long-term value it took decades to build.”
Florida Memorial University5s President, William C, McCormick, Jr., said “The Knight Foundation’s investment jn Florida Memorial University is far more than a grant, it is support that catalyzes a campus modernization vision that does two things at once: it meets the immediate, urgent housing needs of our students, faculty, and the surrounding community, and it unlocks alternative revenue streams that will help sustain this university for generations. This partnership will allow us to transform dormant land into living endowment revenues that flow back into scholarships, academic quality, and student success. For that confidence, and for the future it makes possible, we are profoundly grateful.”
FMU is the only HBCU in South Florida. At a time when both the costs of housing and higher education are rising across Miami-Dade, FMU envisions redevelopment designed to meet demand and strengthen both the university and the surrounding neighborhood.
About Florida Memorial University
Founded in 1879, Florida Memorial University (FMU) is one of the oldest institutions of higher education in the State of Florida and the only Historically Black College and University (HBCU) in South Florida. FMU has remained steadfast in its mission to educate leaders of character, service, and distinction. Committed to academic excellence and community engagement, FMIJ offers a diverse range of undergraduate and graduate programs designed to empower student
