Is the Marshall Foundation more of a retail-property-development
company, or a philanthropic nonprofit agency? Well, it’s inseparably
both, according to Jane McCollum, director of the foundation.
McCollum’s job is to manage and develop the Main Gate Square property
west of the UA, and, with the help of her board, to donate funds to UA
scholarships and those in need living in Pima County. For more
information, visit www.maingatesquare.com.
A big part of your job is working as a property manager, not just
as a director of a nonprofit.
That’s because all of our money comes from the management of our
assets. We get no outside donations, and we have no family trust. So
there’s no money that just sits in a bank growing. We have to manage
these assets properly and appropriately. And the (Internal Revenue
Service) determines how much we give away: It’s 5 percent of the fair
market value of my real estate.
Some people are still nostalgic for what was here before Main
Gate was redeveloped. Do you understand where they’re coming
from?
Sometimes. It is a push and pull for me, personally. I’m a local
business person. I shop at local businesses. You won’t find me at
Wal-Mart. I’m not that person; I’m going to go to a local restaurant.
I’m going to go to a local retailer. But I understand what a recognized
name brings to an area. … People would be surprised to know that 70
percent of my stores are locally owned, or they are franchises operated
by people who live here. … From that perspective, we don’t always
give credit and credence to that. But I’ve had a lot of people say,
“It’s so Pei Wei-ified.” I’ll say, “That’s an interesting word, but 70
percent of my businesses are local; did you know that?”
Who started the foundation?
Louise Marshall was our founder. She was the first female professor
at the university in 1899. She came from a background where her family
was not wealthy, but then her dad discovered the formula for patent
leather. She had both perspectives. Her parents understood the need to
give back to the community and to help those who were less fortunate
than you. … She wanted the Marshall Foundation to do that when she
founded it in 1930. She felt that it needed to help youth, to help
education and to help those less fortunate. At some point, the bylaws
were amended to include some things like arts and culture, and that it
had to be limited to Pima County.
Is there still a plan to build a movie theater within Main Gate
Square?
Yes. The foundation looks at itself as a partner with the University
of Arizona. The UA wants a theater for its media-arts program. So we
sort of feel an obligation to help with that. The secondary thing is
that it would obviously change the dynamic of summer for us and
Christmas. The challenge is that a movie theater, while not the same as
a grocery store, does not always pay rent that supports the building of
a new building. The challenge … is finding something that can be
financed that works for the Marshall Foundation, because when it comes
out of the ground, it has to break even from the get-go.
And you feel you’ve been able to do that?
We’ve been identifying all of the tenants that are going to be in
before (constructing the planned new building). We’ve identified our
largest retailer on the bottom, and that would be the Aveda Institute.
They told us, “We want to build where you’re building. We want our
students to feel like they are getting a university experience as
well.” Now we’re working on costs, and this is a good time to build.
It’s a little bit cheaper.
What theater company is coming in?
I can’t tell you until we sign the lease.
Are you guys looking forward to the light rail that will link you
with downtown?
I think one of the reasons I was hired is that our board and our
development consultants knew of my involvement in downtown when I was
manager of La Placita Village. I’ve always been involved. I was on the
original Rio Nuevo Citizens Advisory Committee. … We’re now connected
to downtown and the neighborhoods, and that’s a great thing. I think
the more people come down to all of these places, the more they will
understand that the urban core is not a scary place. It’s really where
there is a lot of life.
This article appears in Jul 30 – Aug 5, 2009.