At UNC Asheville, we encourage prospective and current students not to ask “What if?” Instead, we encourage them to ask “What’s next?” We are asking the same question in regards to our Millennial Campus properties, which have the potential to strengthen the student experience inside and outside the classroom and enhance the economic development of the City of Asheville, Buncombe County, and Western North Carolina.

In April 2021, the UNC System Board of Governors approved UNC Asheville’s request to designate several parcels of University property as a Millennial Campus. These properties, many of them undeveloped, are key assets that can be leveraged to advance the evolution of the University and diversify the region’s economy.

With 85% of our students from North Carolina, and almost half of them from Western North Carolina, UNC Asheville is helping. Over 70% of our alumni currently reside and work in the state. UNC Asheville also recently created Access Asheville, a new financial aid program designed to make an exceptional, transformative education attainable for low- and middle-income families.

Other UNC System institutions have achieved great success in developing their Millennial Campus properties since the designation was established. UNC Asheville is looking to the successes of our sister institutions as inspiration for how we will move forward.

The Millennial Campus Designation

Established by the North Carolina General Assembly in 2000, the Millennial Campus designation provides UNC System institutions with the ability to strengthen the student experience inside and outside the classroom and enhance the economic development of the regions we serve.

That designation, as outlined in The Centennial Campus, the Horace Williams Campus, and the Millennial Campuses Financing Act “shall be based on an express finding by the Board of Governors that the institution desiring to create a ‘Millennial Campus’ has the administrative and fiscal capability to create and maintain such a campus and provided further, that the Board of Governors has found that the creation of the constituent institution’s or affiliated institution’s ‘Millennial Campus’ will enhance the institution’s research, teaching, and service missions as well as enhance the economic development of the region served by the institution.”

Millennial Campus map

UNC Asheville South Campus and Broadway Properties

UNC Asheville’s main campus and South Campus, with the City of Asheville in the background
Pictured are UNC Asheville’s main campus and South Campus, with downtown Asheville in the background

In June of 2025, UNC Asheville announced a proposed development plan for the 45-acre property known as the South Campus, which is bordered by Broadway Street and W.T. Weaver Boulevard, and the property known as the Broadway Property that is bordered by Zillicoa Street and the Reed Creek Greenway.

The two-phase project, once it is fully completed, will bring in investments of over $250 million, hundreds of jobs, and substantial increases in new sales tax revenue each year. Equally important, it will bring resources and opportunities to UNC Asheville and the region that will ensure vibrant and accessible opportunities for all.

In collaboration with Asheville City Soccer Club, the anchor of phase one of the proposed plan is a multi-purpose stadium on the South Campus that would be home to both men’s and women’s USL soccer teams and the UNC Asheville men’s and women’s Division I soccer teams. The stadium will also be designed to host multiple types of events that will draw people from across the region and state to the University and city. 

Included in phase one will be mixed-use housing for UNC Asheville students, faculty and staff, and the local community, as well as a planned child care center and other amenities. These additions to Asheville will ease on-campus housing shortages and address the community’s high-demand and critical needs in multiple areas.

The plan also includes green space, consistent with the University’s commitment to balancing environmental sustainability with its need to ensure financial sustainability through vibrant student, faculty, and staff experiences. This commitment can be seen in other projects, including sheltering Chestnut Ridge during the construction of Lookout Observatory, the permaculture garden at the Sam Millar Facilities Management Complex, the partnership with the Botanical Gardens, which will soon be solidified via a long-term agreement, and the University’s donation of the land to help create the Reed Creek and Glenn’s Creek Greenways along Broadway Street and W.T. Weaver Boulevard.

Details for the Broadway Property, part of phase two of the project, are still being determined.

General Millennial Campus Questions

A Millennial Campus is a distinct designation for real property and associated facilities, separate from the main campus, as defined by the UNC System.

Its goal is to foster collaborations between the university, industry, and the community, leading to innovation, economic growth, and cultural enrichment.

Millennial Campuses are intended to strengthen the university’s research, teaching, and service missions, while also contributing to regional economic development.

It can be university property as well as properties owned by constituents to the university.

The designation gives the university the flexibility to enter into agreements with private sector firms to develop the properties, facilitates issuing bonds to finance development of the properties, and allows the university to keep all revenues related to leasing agreements.

Examples include housing and mixed use developments at Appalachian State University, North Carolina State University, UNC Greensboro, and Western Carolina University. The table below gives a summary of system wide properties in millennial campus areas.

InstitutionNumber of BuildingsEstimated Total Square Feet (SF)
Appalachian State University803,718,196
East Carolina University552,286,739
NC Central University12771,392
NC State University1347,623,837
UNC Asheville29277,825
UNC-Chapel Hill1171,950,057
UNC Charlotte763,362,722
UNC Greensboro422,094,081
UNC Wilmington461,913,291
Western Carolina University171,183,190
UNC System16540,336
TOTAL62425,721,666

Source: UNC System Millennial Campus report January 2024

Revenues generated for the university by Millennial Campus properties can be reinvested into activities within the Millennial Campus. Since many of UNC Asheville’s facilities are located on properties with the Millennial Campus designation, revenues can be used to offset expenses currently being covered by other sources. In other words, revenue generated by Millennial Campus properties will allow UNC Asheville to reallocate resources to critical areas that serve our mission, such as instruction, student success, and the student experience.

All Millennial Campus projects are approved by the UNC Board of Governors.

UNC Asheville’s Millennial Campus

Approximately 211 acres

The UNC System Board of Governors approved UNC Asheville’s Millennial Campus designation in April 2021.

The Millennial Campus initiative is an opportunity to build a future of hope and prosperity for our campus and the community while addressing critical needs and diversifying our revenue streams.

It is imperative that we address student housing demand. Over 1,000 of our students live within a mile of campus, and more students are asking to move back on campus. We must also build a vibrant student life experience with amenities and opportunities for students to gather, access restaurants and retail, and attend events.

Millennial Campus property development is also an effort to respond to financial pressures facing the University and indeed, higher education across the country, including enrollment declines and funding uncertainties. It is part of a strategy to enhance financial sustainability and expand community impact without burdening the university’s budget.

The University does not plan to sell any of its Millennial Campus properties.

UNC Asheville’s South Campus and Broadway Street Properties

In June 2025, UNC Asheville announced a proposed plan to develop portions of its Millennial Campus, to take place in two phases. This includes the property known as the South Campus and property located on Broadway Street.

In collaboration with Asheville City Soccer Club (ACSC), the anchor of phase one of the proposed plan is a 5,000-seat, multi-purpose stadium on the South Campus that would be home to both men’s and women’s professional USL soccer teams and the UNC Asheville men’s and women’s Division I soccer teams. The stadium will also be designed to host multiple types of events that will draw people from across the region and state to the University and city, including local and regional youth and club sports tournaments. 

Included in phase one will be 300-450 units of mixed-use, market-rate housing for UNC Asheville students, faculty, and staff, and the local community, as well as 30,000-50,000 square feet of retail space, including a planned childcare center. These additions to Asheville will ease on-campus housing shortages and address the community’s high-demand and critical needs in multiple areas.

Details of phase two are still being determined.

The University’s costs related to this project will be limited to legal and administrative costs due to contract negotiations.

UNC Asheville would shoulder none of the costs for the stadium or housing and retail developments. Instead, it would be paid ground rent based on the market value of land. This payment would increase over time.

Following a vote at its July 2025 meeting, the UNC Asheville Board of Trustees approved the leasing of the South Campus and Broadway Street properties to the UNC Asheville Endowment Fund. The Endowment Fund will, upon approval by the UNC System Board of Governors, lease these Millennial Campus properties to the developer and be paid a base rent of $1.07 million. With rent deferred until 2030, a preliminary rent schedule showed annual payments beginning at $1.69 million — with 3% increases each year — reaching $4.69 million by 2075.

Design and permitting is expected to take two years to complete, with another two

years for construction. The stadium portion of the project is expected to be completed by the end of 2028, with the housing and retail portions completed in the spring of 2029.

Based on extensive research and site visits of all University properties from surveyors and other experts in the field, this is the only land on campus proper that is suitable for a stadium based on topography, elevation, space, and accessibility. Some additional considerations are:

  • The need for stadiums to have a north-south orientation to minimize the impacts of sunlight on games and events.
  • Greenwood Field and its immediate adjoining area are not appropriate due to the size of site and the presence of underground geothermal installations that serve a residence hall – part of our ongoing commitment to sustainability.
  • Building on existing parking surfaces and other land is not an option due to the requirements of the stadium. 

The McCullers Group. They are the preferred developer of the United Soccer League (USL) and have proven experience.

Yes, they are a national leader for USL soccer stadium construction. They bring experience and financial backing needed for such a large-scale, public-private partnership.

The latest information on the project can be found here. As we move through the process, and more information is available, we will inform the public, engage in thoughtful conversations, and post all information to the website.

Financing for the Proposed Plan

The University’s costs related to this project will be limited to legal and administrative costs due to contract negotiations.

UNC Asheville would shoulder none of the costs for the stadium or housing and retail developments. Instead, it would be paid ground rent based on the market value of land. This payment would increase over time.

The planned project will be built with private funding and grants from a variety of sources. 

The structure as a ground lease minimizes the University’s risk exposure. Safeguards will be written into the terms and conditions of the ground lease to ensure appropriate bonding and continuance clauses.

University Benefits

No. The project does not impact academic budgets. It allows the University to grow non-tuition revenue, easing reliance on state funding and tuition while supporting the University’s long-term mission.

Absolutely! That is a prime drive in our design of this project. 

Students will have the option to rent apartments, attend events, and utilize the retail options.  Additionally, UNC Asheville’s men’s and women’s soccer teams will host matches at the stadium. The stadium will free up Greenwood Field as a site for UNC Asheville intramural and club sports, as well as for community sports. 

Student housing and mixed retail will be part of phase one.

The University is working to incorporate a design that will attract privately run daycare on the site. This is a critical need in Asheville and for our students, faculty, and staff in particular. 

Other Questions

UNC Asheville held input sessions in April 2025 for faculty, staff, students, and local community members to share their ideas, questions, and concerns regarding development of its Millennial Campus properties. Future input sessions will be provided as development plans are considered for all of the University’s Millennial Campus properties.

Additionally, several steering committees are being planned for various aspects of the project.  Representation from all communities will be pursued as we seek balanced and open dialogue about the various phases and aspects of the project. 

The project, once it is fully completed, will bring in investments of over $250 million, hundreds of jobs, and substantial increases in new sales tax revenue each year. Equally important, it will bring resources and opportunities to UNC Asheville and the region that will ensure vibrant and accessible opportunities for all. 

With over 1,200 housing units needed in the area within 5 years, this project will help alleviate local shortages by alleviating demand.

The developed property in the housing and mixed-use space will be subject to property taxes. That amount is yet to be determined, but it will provide substantial benefit to the region.

The environment here is precious and we appreciate and understand concerns about the impact of this project. The plan includes green space, consistent with the University’s commitment to balancing environmental sustainability with its need to ensure financial sustainability through vibrant student, faculty, and staff experiences. All efforts will be made to engage with the community during the design and planning phases in order to ensure green spaces, walkways, best practices, and ongoing stewardship.  

More information about programming at the stadium will be released soon. We anticipate not only soccer events for both ACSC and the University, but concerts, community events, conferences, UNC Asheville events, and local youth and high school sports events.