University of Nevada, Reno (UNR) got pre-approval from the Nevada Board of Regents this week to sell historic properties near campus along North Center, North Lake, and East Eighth streets to allow for campus expansion.
The Regent’s Business, Finance & Facilities Committee gave UNR the go-ahead during its meeting at the University of Nevada, Las Vegas.
UNR has been acquiring property south of campus as part of its master plan, which was created through planning efforts with the City of Reno and Regional Transportation Commission. Master plans are long-term visions that guide decisions about future growth.
University officials have said they’re opposed to demolishing the buildings constructed as early as the 1890s but would like them relocated. UNR’s appraiser indicated a typical investor buying the property would deduct moving costs from the purchase price. Eight of the properties are residential, two are vacant, and two are used as offices. Leases expire on or before June 2018.
“This will save UNR the future cost of relocating and/or demolition cost while maintaining the opportunity to reutilize these structures elsewhere in the Reno area and preserving their historical significance,” a briefing paper from UNR to the Regents said.
If homes stay in their current location, UNR alleges it would impede growth and require a revision to the campus master plan. Also, maintaining the homes as short-term rentals has become costly.
Some have opposed the relocation of the buildings, saying that distributing them throughout the region will cause part of history to be lost.
Potential sales must be brought back to the chancellor after consultation with the chairperson of the business, finance and facilities committee. Review and approval by the vice chancellor of legal affairs is also required, according to the resolution approved by the Regents’ panel.