The Missouri State University Board of Governors yesterday approved two property purchases expanding the breadth of IDEA Commons, President Clif Smart tweeted.
The approval means MSU will buy property on the north and south side of the railroad tracks along Mill Street just west of Campbell Avenue. The purchases are separate from the nearby Touche nightclub, which is under contract as an addition to IDEA Commons, an 88-acre area downtown focusing on innovation, design, entrepreneurship and the arts. Both pieces of property considered yesterday are being purchased from Mauldin Family LP.
MSU plans to use the southern property, a 1.4-acre lot at 353 N. Campbell Ave., to create more parking for MSU’s Brick City students. The approval of the $275,000 purchase means an agreement with the city of Springfield will go into effect, according to the board’s Aug. 3. agenda.
Under the agreement, Springfield will take over the property from MSU to open up the nearby floodplain created by Jordan Valley Creek. MSU then would be able to use the lot for parking purposes, either free of charge or under a reimbursement plan for improvements over a 10-year period. Among improvements, MSU plans to demolish two small, boarded up buildings on the lot.
The MSU board also gave the green light to buy storage space at 411-417 W. Mill St. for $540,000. The deal allows the university to stop leasing space at the adjacent 405 N. Campbell Ave. building next door, owned by Nick Sibley, in favor of the 28,741 square feet owned by Mauldin Family LP. The 417 W. Mill St. property had housed Midwest Materials Co., but the business relocated last month.
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