November 16, 2001 UNT Inhouse publication: UNT closes deal to purchase TI plant

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UNT closes deal to purchase TI plant for $8.9 million

UNT purchased a nearly 300-acre Texas Instruments property in north Denton Nov. 15 for $8.9 million.

The property — near the juncture of U.S. Highway 77 and Loop 288, just east of Interstate 35 — comes with four interconnected two-story buildings of some 550,000 gross square feet. TI used the structure in the late 1980s and early '90s for light manufacturing.

UNT President Norval Pohl says this new property and facility, located approximately four miles from the main campus, opens the door for a broad range of opportunities for UNT.

"These outstanding facilities add considerable strength and bring remarkable opportunity to UNT's drive for recognition as a major research institution," Pohl says.

"We can begin making good use of classroom, laboratory, office and work space in the buildings in this academic year to overcome our current space deficit," he says. The Texas Higher Education Coordinating Board recently determined UNT has a 342,000-square-foot space deficit.

"Moving some administrative and support functions to the new facility will bring an initial benefit for UNT by freeing up as much as 150,000 square feet for expansion of programs on the main campus," Pohl says.

The university soon will begin the process of developing a comprehensive plan and schedule to relocate various divisions, departments and groups from the main campus.

In addition, Pohl says the property will provide ample space for the development of research facilities as well as for expanding academic programs.

UNT's plans for the newly acquired land include looking for partnership opportunities with high-tech corporations to establish a research park dedicated to expanding research and enhancing economic development in North Texas.

"The location of this new property — just north of the apex where interstates 35E and 35W come together — makes it an ideal site for a research park," Pohl says.

Following authorized inspections of the property, UNT administrators commended TI on the facilities' excellent condition. In areas where minor additional service is needed, TI has agreed to work with the university.

Remarking on the negotiation process and the purchasing price, Pohl thanked TI for its generous recognition of the benefit of selling the property to an educational institution. "It is clear from our experience on this agreement that TI's support for technology in higher education is as strong as ever," he says.

In recent years, specialized equipment from TI (worth $3.5 million to UNT) has benefited research conducted by UNT's departments of chemistry, engineering technology, materials science and physics.

In addition, in 1999 the Texas Instruments Foundation committed $300,000 to support activities, equipment, operations and programs at the new UNT System Center at Dallas.

The UNT Board of Regents unanimously approved a resolution for the university to pursue purchase of the property in a specially called meeting Oct. 15. Then, on Oct. 16, a group of regents and university administrators hosted a tour of the property with TI officials for two representatives from the Texas Higher Education Coordinating Board.

The favorable result of the THECB members' assessment of the property was reflected in the coordinating board's unanimous vote in favor of the purchase at its Oct. 26 meeting.

The university used Higher Education Assistance Funds for the purchase.