The board of directors of The University of North Carolina at Greensboro’s Endowment Fund today announced a strategic real estate investment to acquire a property on behalf of UNCG that will serve both as a residence for its chancellors now and in the future, and as a key strategic facility for conducting a wide range of university activities. These activities include student and faculty events, alumni and community gatherings, donor meetings and other programs related to the ongoing growth and development of UNCG.
The decision follows more than two years of exploration and collaborative work with the Joseph M. Bryan Foundation of Greater Greensboro (Bryan Foundation), owners of Bryan House in the Old Irving Park neighborhood of Greensboro, which has been the residence for several recent UNCG chancellors. The Bryan Foundation has also agreed to donate a significant array of furniture and other unique items from the Bryan House to the new residence, keeping a number of historically important and valuable items at the home of the university leader.
Since 1995, the Bryan House has served as the chancellor’s residence, while owned by the Bryan Foundation. The late Patricia Sullivan was the first chancellor to occupy the property. Previously, UNCG chancellors lived in a home built in 1922 and owned by the university that now serves as an admissions and visitors center on campus.
The new property, located in the Starmount neighborhood of Greensboro, not only includes living space for UNCG chancellors and their families, but also offers extensive additional meeting and guest facilities. The property was acquired for $1.65 million. All funds for the real estate investment have been provided and approved by the Endowment Fund Board of Directors. No state funds, student fees or tuition money have been used for the acquisition of the property. The current UNCG chancellor, Dr. Franklin D. Gilliam, Jr., will relocate to the new property over the next 30 days.
“The university is deeply grateful to the Bryan Foundation for its generosity in providing the Bryan House as a home for our chancellors, and we are thankful for their support of this transition,” said Brad Hayes, chairman of the UNCG Endowment Fund Board and chairman of the UNCG Board of Trustees. “For several years we have been researching best practices regarding residences for leaders at a modern, growing university – the need for personal engagement of a wide range of audiences, for intimate and private discussions with stakeholders and donors and for a facility that can serve many diverse purposes for the university. We concluded that the new property offers both great investment value and tremendous programming flexibility. We are excited to see this home help support the strategic vision and ongoing development of UNCG for many years to come.”
Added Jim Melvin, CEO of the Bryan Foundation, “It was Mr. Bryan’s wish that their residence be used as the residence of the chancellor of UNCG. The Foundation Board has been pleased to carry out his wish. The house has served the university well for more than 20 years. It is our hope that the legacy of the Bryan House will live on at the new residence, through artifacts, furnishings and other items that will move with the chancellor. The home on Sunset Drive will always represent something special and important to our community.”
Ownership of a chancellor’s residence by the university is standard across the University of North Carolina system. All 17 constituent institutions own and/or provide a residence to their university chancellor as a common component of contractual agreement and compensation.