The 56-year-old apartment complex at 1701 W. 35th St. sits on nine acres and will be offered to highest bidder in a sealed-bid process. It is owned by the University of Nebraska at Kearney.
Jon Watts, vice chancellor of Business and Finance at UNK, said the board’s approval today starts the process of closure of the 108-unit complex. Public notice will be made of opportunities for bids on the property “as-is.” Watts said notice could be made in December with bids due by end of January.
New university housing is under development at the 104-acre University Village south of campus, with Village Flats – a planned 130-bed, million apartment complex. Students living in University Heights were informed in October that the facility will close in May, and University Housing has not been taking new residents.
The university will retain ownership of University Heights through May 31, 2017. Existing lease terms and rates for residents of the affected complex will be honored until the leases expire, Watts said.
The property was appraised at million. The sale of the property will allow the university to reinvest resources to support the development of University Village.
Writer: Kelly H. Bartling, Assistant Vice Chancellor, Communications and Community Relations, 308-224-7473, firstname.lastname@example.org
Source: Jon Watts, Vice Chancellor Business/Finance, 308.865.8205, email@example.com