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President Corcoran updates trustees on enrollment, fundraising, master plan and potential USF land acquisition
Summary
President Richard Corcoran told trustees the college is focusing on recruitment and fundraising, reported metrics on the incoming class, outlined plans for housing and the campus master plan, and described a potential acquisition of University of South Florida property as a land-only deal still under negotiation.
President Richard Corcoran told the Board of Trustees on April 9 that New College is prioritizing enrollment, fundraising and reputation-building as part of an accountability plan summarized as “grow students, grow money, grow prestige.”
Corcoran said the administration has set academic targets for incoming classes, reporting that the current incoming cohort has an average SAT “slightly over 1,200” and a reported average GPA of “3.99.” He said administrators were focusing on recruiting a mix of first-time-in-college (FTIC) and transfer students and that the college had hosted multiple recruitment events, including a large on‑campus debate finals event that drew about 800 attendees.
On housing, Corcoran and other administrators updated trustees on repairs to the Banyan dorms, which were taken offline after hurricane-related leaks and mold. Administrators said the buildings are being renovated—mattresses, carpets and other potentially affected items are being replaced—and that the dorms should be ready by July and likely sooner, in time for summer programs and well ahead of the August semester start. The college is negotiating a contract with a nearby Home2 Suites hotel for additional beds, and officials said discussions with the University of South Florida (USF) could provide further housing capacity.
Corcoran described ongoing legislative outreach in Tallahassee and said the college is actively pursuing recurring revenue sources and capital projects (including PECO requests). He said the college is negotiating contractual language for an announced, multimillion-dollar gift and expects to present more details when agreements are finalized.
On a potential acquisition, Corcoran described negotiations to acquire USF property as primarily a land-only deal. He said the university system would transfer facilities but that “faculty, staff are USF faculty” and that New College would not acquire USF employees. Corcoran told trustees that assuming USF property and the related $28 million in bonding debt is less costly to the state university system than building new campus infrastructure (which he estimated could cost $150 million–$200 million). He added that even if the USF property were acquired, New College would still need to build additional dorms as enrollment grows; large-scale new housing would be a multi-year project, with a three-year horizon mentioned for major new builds.
Corcoran said New College is set to host the State University System Board of Governors later in the year and described ongoing campus improvements, including demolition of dilapidated buildings, waterfront work and signage. He and trustees said the college is revising the campus master plan and expect a first public hearing on the draft master plan within about 45 days.
Trustees asked follow-up questions about timing and process; administrators said they would provide additional briefings in the interim and present master-plan materials at a future meeting.
