Fayetteville State University purchases shopping center to expand campus

Bronco Square is a shopping center along Murchison Road that was built about 20 years ago. Fayetteville State University, right across the street, now owns the $5 million dollar property, after being half-owner for two decades.

Chancellor Darrell Allison, on the job for seven months, says the university acquired it without incurring any debt.

When Chancellor Allison was hired, the Board of Governors highlighted his leadership skills and strong business sense.

As part of this acquisition, the school is partnering with Aramark to open a free-standing Starbucks and Chick-Fil-A at Bronco Square. That will be in addition to a McAlister's Deli, which opened last year.

Those popular chain restaurant will complement more than a dozen locally owned businesses. Allison says by fully owning Bronco Square, the university reaps a big benefit.

"That's revenue generating, that's self-producing income for Fayetteville State University," Allison said. "These are funds that we own. These are funds that we'll be able to decide among ourselves how we'll be able to disperse, how we'll be able to address the needs that we will have."

Bronco Square will also be home to the FSU Innovation and Entrepreneurship Hub which will support start-up businesses with training space for up to 40 people. The hub will replace the FSU Bookstore, which moves to the campus library.

The innovation hub at Bronco Square is set to open in May, but at this time it's unclear how soon Starbucks and Chick-Fil-A will break ground.