Public Relations
PUC to Work Towards Increasing Endowment
In furtherance of its mission to provide more students with a Christ-centered, quality academic environment, Pacific Union College (PUC) announced that its Board of Trustees is finalizing negotiations with Triad Communities (Triad) to explore opportunities for developing a portion of the college’s property in Angwin, California.
In furtherance of its mission to provide more students with a Christ-centered, quality academic environment, Pacific Union College (PUC) announced that its Board of Trustees is finalizing negotiations with Triad Communities (Triad) to explore opportunities for developing a portion of the college’s property in Angwin, California. The goal of this development, and the revenue it will generate, is to grow the college endowment, allowing PUC to increase scholarships for students and create resources for faculty retention and recruitment.
“I continue to be excited about our college's future which will be further guaranteed by the endowment we can create from this agreement,” said Richard Osborn, PUC president.
The decision to work with Triad is the culmination of months of discussion by PUC’s Board and Finance Committee. For some time, the college has been looking at the most appropriate use of its property that is not part of the core campus. PUC intends to move in a direction that is consistent with the mission of the college. To secure PUC’s future as a vibrant learning community, it is essential that the college increase its endowment.
“Most small colleges derive most of their income from tuition dollars, but as costs increase this will not be enough to provide student scholarships for those in need, raise faculty and staff salaries in a high cost area, fulfill employee housing needs in one of the most expensive markets in the nation, and maintain a campus that first began in Angwin in 1909,” said Osborn.
According to John Collins, PUC vice president of finance, most private colleges have an average of $90,000 per student in their endowment. By comparison, PUC has only $10,000 per student.
“The development opportunities could give PUC the potential to exceed the endowment average of $90,000 per student,” said Collins.
A common goal of Triad and PUC is to work towards development that will serve both the Angwin community and the college. Triad will collaborate with PUC to assemble a team of design and land planning experts to create a plan for developing a sustainable community. Triad will also take the lead on processing entitlements with Napa County and conduct an extensive community campaign that invites Angwin residents and PUC faculty and staff to dialogue about how to build social, environmental and financial benefits for the community. According to Triad executive vice president, Curt Johansen, getting community input is a key factor in creating a successful plan.
“The goal of sustainable development for our company is to balance the often competing elements of economics, the environment, and social equity,” stated Mr. Johansen. “This mandates that we share knowledge on many levels with existing residents, learn from them their needs and desires, and incorporate that knowledge into designs that find common ground.”
Sustainable development is an emerging discipline that addresses community creation and operations in a more resource-conscious and earth-friendly manner. Basic tenets of sustainable living prioritize clean air and water, the reduction and reuse of waste, balance between local employment and housing, reduction of carbon-based modes of transportation, and the support of renewable energy, particularly solar energy.
Following actual development of the property, PUC will retain approximately 1,000 acres, a considerable amount of property for a college of this size. Included in this is miles of forest hiking and biking trails.
Triad Communities, L.P. has developed a wide range of innovative projects in the Pacific Northwest over the last two decades. For nearly ten years, the company has been expanding their diverse portfolio in the Bay Area. Their projects include sustainable master planned communities, smart growth urban infill projects, transit-oriented neighborhoods, and high-end resort developments. Their most recent entitlement project, a 20-block renovation of Downtown Vallejo, received Northern California’s highest award of excellence from the American Planning Association for innovation, including a LEED-certified (Leadership in Energy & Environmental Design) component for green building.
“I continue to be excited about our college's future which will be further guaranteed by the endowment we can create from this agreement,” said Richard Osborn, PUC president.
The decision to work with Triad is the culmination of months of discussion by PUC’s Board and Finance Committee. For some time, the college has been looking at the most appropriate use of its property that is not part of the core campus. PUC intends to move in a direction that is consistent with the mission of the college. To secure PUC’s future as a vibrant learning community, it is essential that the college increase its endowment.
“Most small colleges derive most of their income from tuition dollars, but as costs increase this will not be enough to provide student scholarships for those in need, raise faculty and staff salaries in a high cost area, fulfill employee housing needs in one of the most expensive markets in the nation, and maintain a campus that first began in Angwin in 1909,” said Osborn.
According to John Collins, PUC vice president of finance, most private colleges have an average of $90,000 per student in their endowment. By comparison, PUC has only $10,000 per student.
“The development opportunities could give PUC the potential to exceed the endowment average of $90,000 per student,” said Collins.
A common goal of Triad and PUC is to work towards development that will serve both the Angwin community and the college. Triad will collaborate with PUC to assemble a team of design and land planning experts to create a plan for developing a sustainable community. Triad will also take the lead on processing entitlements with Napa County and conduct an extensive community campaign that invites Angwin residents and PUC faculty and staff to dialogue about how to build social, environmental and financial benefits for the community. According to Triad executive vice president, Curt Johansen, getting community input is a key factor in creating a successful plan.
“The goal of sustainable development for our company is to balance the often competing elements of economics, the environment, and social equity,” stated Mr. Johansen. “This mandates that we share knowledge on many levels with existing residents, learn from them their needs and desires, and incorporate that knowledge into designs that find common ground.”
Sustainable development is an emerging discipline that addresses community creation and operations in a more resource-conscious and earth-friendly manner. Basic tenets of sustainable living prioritize clean air and water, the reduction and reuse of waste, balance between local employment and housing, reduction of carbon-based modes of transportation, and the support of renewable energy, particularly solar energy.
Following actual development of the property, PUC will retain approximately 1,000 acres, a considerable amount of property for a college of this size. Included in this is miles of forest hiking and biking trails.
Triad Communities, L.P. has developed a wide range of innovative projects in the Pacific Northwest over the last two decades. For nearly ten years, the company has been expanding their diverse portfolio in the Bay Area. Their projects include sustainable master planned communities, smart growth urban infill projects, transit-oriented neighborhoods, and high-end resort developments. Their most recent entitlement project, a 20-block renovation of Downtown Vallejo, received Northern California’s highest award of excellence from the American Planning Association for innovation, including a LEED-certified (Leadership in Energy & Environmental Design) component for green building.