UH sells property assets
The UH System Board of Regents approved transferring authority to President and Chancellor Renu Khator to execute and negotiate contracts involving the sale of some UH assets.
Components of land to be sold vary in size, price and currently observable function. A 0.7-acre set of lots in Kingsland Hills of Burnett County is valued at $110,749, whereas an out-of-the-way 3.55-acre property in Arkansas’ Posy Mountain Ranch is valued at $660.
“The UH System acquired small parcels of land through bequests or unsolicited gifts,” said Eloise Stuhr, vice president and vice chancellor for University Advancement, at Wednesday’s Board of Regents meeting. “The total value of these 16 parcels, which are widely scattered, is about $160,000.”
A list of the lands to be sold is publicly available on the Board website, entitled Remote University of Houston Real Properties Recommended for Disposal. The specific reasons for selling the lands vary, but the general consensus is that growth for these properties will be marginal.
“In the past, there have been instances where the University has held real estate in order to maximize value,” Stuhr said. “Those decisions are made by the University’s Division of Advancement and are based on the real estate and financial markets.”
Also approved at the meeting was Khator’s authority to execute a contract to sell 2.885 acres of land just south of the Energy Research Park to the Houston Parks Board. HPB is purchasing the piece, appraised at $336,520, to then green-light the Harris County Flood Control District to finish needed engineering developments in Brays Bayou.
“The transaction is a part of the Houston Trails System, which is an initiative of the city to provide walking and jogging trails throughout the city and connect neighborhoods,” said Board member Welcome W. Wilson Jr. “I recommended us to participate, because there are other (trails) along (Brays) Bayou, and it will create a great amenity for the campus.”