|Attending Carolina is a Michaux family tradition.
And with the birth of another grandchild, Dick and Ginny Michaux can only
wonder if the new arrival will represent the fourth generation of the family
to don Carolina blue.
The Michaux' long line of Tar Heel connections began with Dick's mother,
Alice Kerr Michaux. After graduating from Sullins College in Tennessee,
she took courses at Carolina, later becoming a social worker in the eastern
part of the state. Dick came to Carolina to attend graduate school, earning
his MBA in 1973. Ginny received a master's degree from the School of Nursing
in 1976. Their daughter, Alison, and her husband, Robert Piziali, graduated
from Kenan-Flagler Business School in 2001.
Dick Michaux '73
After three generations of Tar Heels, the Michaux family chose to guarantee
their legacy at Carolina by establishing the Michaux Family MBA Premier
Fellowship for Real Estate Students at the Kenan-Flagler Business School.
The $500,000 gift to endow the fellowship, one of the most prestigious
fellowship awards in Kenan-Flagler's history, will significantly enhance
the school's visibility and enable it to attract the very best MBA students
from all over the world. The fellowship will be awarded to exemplary candidates,
covering tuition and fees and providing a stipend to the recipient. Premier
fellowships such as the Michaux are designed to be comprehensive graduate
fellowships comparable to the Morehead awards at the undergraduate level.
"Kenan-Flagler and our University are steeped in tradition, and it
is only fitting that we have an endowment named for the Michaux family
- a family that has continued the Carolina tradition across several generations,"
said Robert S. Sullivan, dean of the school. "Such familial commitment
to a single university typifies this place, and the Michaux Family MBA
Premier Fellowship for Real Estate Students stands as fitting testament
and tribute to the ties the Michaux family has established with our academic
As a recipient of a graduate Morehead fellowship from UNC, Dick Michaux
recognized the need for similar fellowships at Kenan-Flagler for current
students. The fellowship that he was awarded (which is no longer offered)
convinced him to attend Carolina. While studying in Chapel Hill, he met
other students whose graduate fellowships enabled them to attend UNC
"Kenan-Flagler already has outstanding faculty, impressive facilities
and an inviting location and atmosphere, but in order to attract the most
outstanding students, the business school needs to establish premier fellowships,"
he said. Michaux hopes the creation of the fellowship will not only enable
Kenan-Flagler to recruit world-class students, but will also allow him
to give back to the real estate industry by bringing exemplary students
into the real estate program.
The Michaux family established this endowment as Kenan-Flagler embarked
on the creation of the new Center for Real Estate Development. The school
also has a major initiative to create premier MBA fellowships. Both initiatives
are part of Kenan-Flagler's major fund-raising goals for the Carolina
First campaign. The Michaux endowment, specifically targeting real estate
students, will significantly boost the visibility of the Center for Real
The center encompasses three primary functions: programs, research and
outreach. Its aim is to evolve into an international center of real estate
expertise. Kenan-Flagler's real estate initiative is the only business
school program in real estate education in the country focused on the
larger context of smart growth and sustainable development. Center director
Tony Ciochetti said, "The Michaux Family MBA Premier Fellowship for
Real Estate Students allows us to market our new initiative and position
ourselves as a world leader in real estate education. Most importantly,
this endowment enables Kenan-Flagler to competitively recruit students
who might otherwise attend schools, such as Wharton, MIT and Berkeley,
which are known for their nationally recognized real estate programs.
We are honored and grateful the Michaux family has chosen to endow this
Dick Michaux enjoyed a successful career in real estate that spanned 30
years. He retired as CEO and chairman of AvalonBay Communities in December
2001. Prior to joining AvalonBay in 1993, he was a group managing partner
of Trammell Crow Residential and was responsible for residential development
in the Mid-Atlantic, Northeast and Midwest regions. He also served as
a division manager of Ryan Homes in Virginia and in finance and general
management with Sea Pines Company in Hilton Head Island, S.C.
Ginny Michaux, a retired psychotherapist, worked with the mentally ill
for 20 years. She has been involved in environmental and conservation
issues, has traveled to both the North and South Poles, and is currently
drafting a book about the effects of global warming.
Dick Michaux believes that individuals should take the opportunity to
give back to their alma maters, whether through gifts of time, talent
or financial resources.
"We should be proud of UNC and Kenan-Flagler," he said, "and
individuals should reflect and realize how much the school gave to them.
Whether someone has benefited from an education or an association with
Carolina, one should determine the right mix of giving back to the University."
Amy Keith '95