This thesis examines historic property management while drawing connections to campus conditions at large. It recognizes the complex cultural, social, economic, and legal conditions of a public, historic, and vacant property in a “campus” context and investigates the governance issues that may encourage or prevent that property’s adaptive reuse potential. The research methods stem from a collection of foundational academic training, early career experiences, and explorative conversations with preservation and campus planning professionals. The results of this study demonstrate key takeaways in preservation portfolio management while revealing an opportunity for the future of campus planning, especially within the higher education community. When the fate of one historic building is tied to a nationwide portfolio or a large campus with many buildings and various infrastructural demands, that property’s transformation cannot occur without a deep understanding of its heritage and context, data-driven advocacy, and strategic growth management.