UA buys 9.7 acres to add fields

The University of Arkansas at Fayetteville's purchase of 9.7 acres south of the main campus will allow for additional intramural fields for students, potentially furthering a push for more intramural fields that included the purchase of nearly 66 acres earlier this year.

photo

A map showing the University of Arkansas at Fayetteville property purchased near Baum Stadium.

The latest purchase approved by the University of Arkansas System board of trustees at its meeting in Monticello last week was significantly costlier, however. Trustees agreed to the purchase of 9.7 acres for $3.5 million, compared with approximately $2.5 million for multiple tracts totalling nearly 66 acres approved in January.

The newest site is west of Beechwood Avenue and south of Martin Luther King Jr. Boulevard, not far from UA's Baum Stadium, where the Arkansas Razorbacks baseball team plays.

"The land is in an area of Fayetteville that is rapidly being developed. It is close enough to campus that we consider it valuable for our own growth -- and unlikely that it would be available again," UA spokesman Laura Jacobs wrote in an email, also noting that other uses for the land "may emerge over time."

Its estimated market value set by the Washington County assessor's office differs sharply from the recently announced purchase price and previous transactions. The assessor's office estimated its market value at $372,500, but the same site sold for about $1,535,000 in 2006, according to county records.

Sales prices across a neighborhood or area contribute to how the assessor's office estimates market values, rather than individual transactions guiding the market value estimates.

UA hired a third-party appraiser who appraised the value of the property at $3,485,000, according to documents presented at the board of trustees meeting. Jacobs said the site has been used for parking.

Beechwood Properties of Arkansas LLC accepted an offer of $3.5 million.

Milo Bryant is listed as one of the founders of the limited liability company, according to Arkansas secretary of state records.

The previous owner listed in county records is Ayshire Electronics LLC. The Louisville, Ky.-based electronics company was owned by Milo D. Bryant until his death in April 2013, according to Bloomberg Businessweek.

Chancellor G. David Gearhart has said UA lacks intramural fields compared to similar universities, telling faculty members last week at a Faculty Senate meeting that the university is "sorely in need" of more intramural fields.

"We have one of the lowest percentages of playing fields of any of our [Southeastern Conference] institutions, and that's a serious need," Gearhart said.

Students have access to 9-acres of sports fields north of Martin Luther King Jr. Boulevard.

The purchase approved in January was also for land south of the main UA campus. It is south of the Cato Springs Research Center and east of South Razorback Road. The new land purchase is about two blocks west of South Razorback Road.

Jacobs said the university is still evaluating the land approved for purchase in January, with no estimate for when new intramural fields will be open to students.

With the student population topping more than 26,000 students, "we need between 130 and 140 acres" for intramural fields, Jacobs said.

Metro on 09/17/2014

Upcoming Events