Building sustainable universities calls for participative management and collaboration among stakeholders. Combining analytic hierarchy and network processes (AHP/ANP) with statistical analysis, this research proposes a framework that can be used in higher education institutions for integrating stakeholder preferences into strategic decisions. The proposed framework is applied to a private university in Turkey as a case study through a survey of 30 participants, representing key internal stakeholder groups. The present research extends the literature by adding a statistical analysis component involving a diverse sample of stakeholders, while previous applications of AHP/ANP in higher education involve a single or a few decision makers. The survey demonstrates stakeholder priorities with respect to sustainability performance indicators and a set of investment projects as well as how they change under low, medium and high financial constraints. The study finds that, while stakeholders have varying opinions regarding sustainable development, generally their highest priority is teaching, followed closely by research. Further, although stakeholders assign a high priority to environmental initiatives when the concern is service and social responsibility, they do not consider such investments profitable. Lastly, it appears that "high visibility" projects gain priority as the level of financial constraint increases.