Bay Area

Does Holy Names University Need to Close Down? HNU’s Bond-Holder Says No

When the Holy Names University Board of Trustees declared in December 2022 that the college was closing, they said they could not afford to remain open and were under pressure to repay a recent $50 million loan.

Published

3 years ago

March 6, 2023

Oakland Post

Holy Names University campus. Photo courtesy of HNU archives.

By Ken Epstein

However, the lender, Preston Hollow Community Capital (PHCC), is saying something quite different. In a recent letter to City of Oakland officials, the lender wrote:

“It is important that we make two things abundantly clear. 1) HNU decided, on its own and over PHCC’s objections, to close down – despite the fact that we have expressed a clear and ongoing commitment to help them overcome their challenges; and 2) PHCC is committed to doing everything it can to keep this campus as an institution of higher education rather than watch it be bought and sold to the highest bidder for some other purpose,” including “potentially for luxury real estate development.”

In the letter, Preston Hollow describes itself as “a leading social impact investor in the United States. We invest in and assist projects of significant social and economic importance to local communities.”

For example, in January they created a project to assist Howard University, assist the historically Black college, in Wash., D.C., with a $300 million tax-exempt bond-financing arrangement.

In its letter to Oakland officials, Preston Hollow reached out to work with the city to save the campus as a center for higher education in Oakland.

“Please accept this letter as the beginning of a line of dialogue between PHCC and Oakland city leaders,” the letter said. “We are committed to working with you collaboratively – and hopefully with HNU’s collaboration as well.”

Some people in the Oakland community are questioning whether HNU’s leaders are interested in seeking alternatives to closing the institution and selling the property.

After HNU’s trustees closure announcement in December, several community leaders asked for a meeting with Board of Trustees Chair Steven Borg to offer assistance, a meeting he refused to attend.

In January, other leaders asked for a meeting with Borg to discuss a specific proposal for a partnership to keep the campus open. That meeting request was also refused.

Recently, Oakland City Council members have been working to find a way to preserve the mission of educating the university’s multiracial student body as teachers, nurses, social workers and undergraduates at the beautiful 60-acre campus with gorgeous views overlooking Oakland and the San Francisco Bay.

In response to Oakland Post questions, Borg did not offer to collaborate with Preston Hollow but criticized the letter for “false and misleading information while also claiming to be operating in good faith with HNU.”

He said HNU’s commitment is to operate the college until May 2023 and to “get the highest value for the property.”

He said that HNU had not missed any payments on its $50 million loan. “Instead, the default was technical in nature.”

This week, faculty and staff at HNU are meeting to discuss these new developments and to consider options that may exist to continue a higher education institution on the campus.

One possibility that excites many members of the Oakland community is the possibility of a partnership with a Historically Black College or University as part of a comprehensive plan to maintain the campus as a center of higher education.

Holy Names is an accredited, Roman Catholic, co-educational university founded by the Sisters of the Holy Names of Jesus and Mary in 1868. Originally established as the Convent of Our Lady of the Sacred Heart by six members of a teaching order from Quebec, Canada, the original site of the convent was on the shores of Lake Merritt. In 1957, the school moved to its present location in the Oakland hills.

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Oakland Post: Week of February 25 – March 3, 2026

The printed Weekly Edition of the Oakland Post: Week of – February 25 – March 3, 2026

Published

4 days ago

March 1, 2026

Oakland Post

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Chase Oakland Community Center Hosts Alley-Oop Accelerator Building Community and Opportunity for Bay Area Entrepreneurs

Over the past three years, the Alley-Oop Accelerator has helped more than 20 Bay Area businesses grow, connect, and gain meaningful exposure. The program combines hands-on training, mentorship, and community-building to help participants navigate the legal, financial, and marketing challenges of small business ownership.

Published

2 weeks ago

February 21, 2026

Oakland Post

Bay Area entrepreneurs attend the Alley-Oop Accelerator, a small business incubation program at Chase Oakland Community Center. Photo by Carla Thomas.

By Carla Thomas

The Golden State Warriors and Chase bank hosted the third annual Alley-Oop Accelerator this month, an empowering eight-week program designed to help Bay Area entrepreneurs bring their visions for business to life.

The initiative kicked off on Feb. 12 at Chase’s Oakland Community Center on Broadway Street, welcoming 15 small business owners who joined a growing network of local innovators working to strengthen the region’s entrepreneurial ecosystem.

At its core, the accelerator is designed to create an ecosystem of collaboration, where local entrepreneurs can learn from one another while accessing the resources of a global financial institution.

“This is our third year in a row working with the Golden State Warriors on the Alley-Oop Accelerator,” said Jaime Garcia, executive director of Chase’s Coaching for Impact team for the West Division. “We’ve already had 20-plus businesses graduate from the program, and we have 15 enrolled this year. The biggest thing about the program is really the community that’s built amongst the business owners — plus the exposure they’re able to get through Chase and the Golden State Warriors.”

According to Garcia, several graduates have gone on to receive vendor contracts with the Warriors and have gained broader recognition through collaborations with JPMorgan Chase.

“A lot of what Chase is trying to do,” Garcia added, “is bring businesses together because what they’ve asked for is an ecosystem, a network where they can connect, grow, and thrive organically.”

This year’s Alley-Oop Accelerator reflects that vision through its comprehensive curriculum and emphasis on practical learning. Participants explore the full spectrum of business essentials including financial management, marketing strategy, and legal compliance, while also preparing for real-world experiences such as pop-up market events.

Each entrepreneur benefits from one-on-one mentoring sessions through Chase’s Coaching for Impact program, which provides complimentary, personalized business consulting.

Garcia described the impact this hands-on approach has had on local small business owners. He recalled one candlemaker, who, after participating in the program, was invited to provide candles as gifts at Chase events.

“We were able to help give that business exposure,” he explained. “But then our team also worked with them on how to access capital to buy inventory and manage operations once those orders started coming in. It’s about preparation. When a hiccup happens, are you ready to handle it?”

The Coaching for Impact initiative, which launched in 2020 in just four cities, has since expanded to 46 nationwide.

“Every business is different,” Garcia said. “That’s why personal coaching matters so much. It’s life-changing.”

Participants in the 2026 program will each receive a $2,500 stipend, funding that Garcia said can make an outsized difference. “It’s amazing what some people can do with just $2,500,” he noted. “It sounds small, but it goes a long way when you have a plan for how to use it.”

For Chase and the Warriors, the Alley-Oop Accelerator represents more than an educational initiative, it’s a pathway to empowerment and economic inclusion. The program continues to foster lasting relationships among the entrepreneurs who, as Garcia put it, “build each other up” through shared growth and opportunity.

“Starting a business is never easy, but with the right support, it becomes possible, and even exhilarating,” said Oscar Lopez, the senior business consultant for Chase in Oakland.