UNC prepping to sell three properties in Greeley
GREELEY — The University of Northern Colorado is looking for a buyer for three of its properties in Greeley — its 98-unit University Apartments complex near the college campus, its performance space Foundation Hall and an empty lot at the corner of 17th Avenue and 25th Street.
The university’s board of trustees met Wednesday morning to finalize the process on how to go about selling the properties, as it also considered lowering enrollment goals.
UNC spokesman Nate Haas said the university could start a competitive bid process for the sale of the properties in the near future.
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The 98-unit apartment complex is located at 509 18th St., three blocks east of UNC’s central campus. The complex’s seven buildings on 3.9 acres, which are among the oldest structures the university owns, have high maintenance costs and no debt — two factors that led to the decision to offer the property for sale. The most recent cost estimate to repair the aging complex was $4.1 million, Haas said.
Foundation Hall at 1516 Eighth Ave., is UNC’s School of Music’s performance venue.
The 12,866-square-foot venue will no longer be needed when the university completes its $73.6 million Campus Commons, a signature building at the heart of that will showcase UNC’s music and musical theater programs. It will include a 600-seat performance venue, 400-seat multiuse auditorium, art gallery and student-run cafe.
UNC purchased the 2.7-acre lot at the northwest corner of 17th Avenue and 25th street 11 years ago for possible future uses, but it has not been developed and now is considered a noncritical part of UNC’s property portfolio.
Haas said student leases at University Apartments will be honored through the 2016-17 school year, and Foundation Hall can’t be redeveloped until the Campus Commons project is completed.
