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'Removing obstacles to growth' | Richmond Free Press | Serving the African American Community in Richmond, VA

President Hakim J. Lucas used Virginia Union University’s
Founders Day celebrations to announce a partnership with a New
York-based development and investment firm to build affordable
housing along Brook and Overbrook roads.
The Steinbridge Group has committed $42 million to build 130
to 200 residences on the northern edge of VUU’s campus.
During the Feb. 2 press conference, the group’s founder and
CEO, Tawan Davis, said his firm had worked with business-
man and philanthropist Robert F. Smith’s Student Freedom
Initiative (SFI) to select VUU as the first HBCU to receive an
investment as part of its $100 million initiative announced in
November 2023.
Its aim is to help HBCUs and other minority-serving institu-
tions make underutilized assets economically productive, thereby
diversifying their revenue streams and improving their financial
situations and endowments.
Mr. Davis estimated that Steinbridge’s investment ....

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