October 19, 2001 UNT Inhouse publication: UNT regents OK negotiations for purchase of TI property in Denton

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UNT regents OK negotiations for purchase of TI property in Denton

In a specially called meeting Oct. 15, the UNT Board of Regents unanimously approved a resolution allowing the university to seek the purchase of the Texas Instruments property in north Denton near the juncture of U.S. Highway 77 and Loop 288, east of I-35.

The nearly 300-acre property comes with four interconnected two-story buildings of some 550,000 gross square feet. TI used the structure in the late '80s and early '90s for light manufacturing.

The property, located approximately four miles from the campus, offers excellent opportunities for UNT in the immediate future and in the long term, says UNT President Norval Pohl.

"It can provide ample space for development of research facilities and administrative service facilities as well as for expanding academic programs," Pohl explains.

"Relocating some administrative and support functions to assignable space in the new facility can bring the proposed acquisition's first benefit for the UNT campus by freeing up as much as 150,000 square feet for much-needed academic uses. Since the Texas Higher Education Coordinating Board recently determined that we have a 342,000-square-foot academic space deficit on our campus, this can give us an excellent start for addressing that challenge," Pohl says.

The regents' approval opens the way for UNT to begin negotiating a contract for an amount not to exceed the appraised value of the property plus closing costs. The board's approval also was necessary to move the proposal forward for Texas Higher Education Coordinating Board consideration. The coordinating board will rule on the purchase at its Oct. 26 meeting.

Title for the property will be obtained in the name of the state of Texas and for the use and benefit of UNT.

The university will use money from the Higher Education Assistance Fund for the purchase.