FAYETTEVILLE, N.C. (WNCN) – A new economic future. 32,000 square feet of space and some more land is going to revitalize a neglected strip mall and community near Fayetteville State University.
With new businesses going in, new jobs will be created. City and school leaders are hopeful that this will also bring people into the area to shop and to eat.
Fayetteville State University officials bought the strip mall for $5 million, debt-free. The money earned will go directly to the school and the community.
“That revenue generated, that’s self-producing income for Fayetteville State University,” said Chancellor Darrell T. Allison. “These are funds that we own. These are funds that we’ll be able to decide among ourselves how they will be dispersed, and how we’ll be able to address the needs that we have.”
That financial independence, along with some state-issued funds, will help Allison achieve his goal of making a difference for the school and the surrounding area
“We’re an academic institution, but we’re also a community institution. We’re also an economic engine in the community, the Fayetteville, Cumberland, and Sandhills region look to us,” added Allison.
Bronco Square will be transformed: a new Chick-Fil-A and Starbucks will be put into the strip mall. The existing university bookstore will be moved to campus, to make room for a brand-new space.
“The FSU entrepreneurship innovation hub,” Allison said. Starting May 2022, the hub will help support small businesses and aspiring entrepreneurs. There will be mentors available, conference and training rooms, and partner resource access.
Allison said that the Sandhills region is one of the fastest-growing areas in the state and he wants his students to be a part of the future.
“It’s an opportunity here to work with the city, working with Cumberland County citizens, and helping us to work with the business community and entrepreneurs here, and once again, being a good strategic community partner for the greater Sandhill region,” he explained.
FayettevilleState University Announces Changing of the Keys Ceremony for “Bronco Square” shopping mall is under 100% FSU Ownership1