The Ohio University Foundation purchased buildings on W. Union Street earlier this month and is still without a plan for what to do with the buildings
Ohio University’s fundraising arm does not have concrete plans for properties on West Union and Moore streets that it purchased earlier this month.
On March 10, the Ohio University Foundation bought 207 and 209 W. Union St. and 28, 29 1/2, 30 and 32 Moore St. for $400,000.
The foundation is the university’s non-profit, fundraising entity and is not comprised of student dollars.
“The foundation and university see the West Union Street property as very strategic to the long-term needs of the university given its adjacencies to other university property along that corridor,” Stephen Golding, vice president for Finance and Administration and treasurer of the OU Foundation, said in an email.
The university owns several properties on West Union and Moore streets, but Golding did not provide specifics as to what the university’s use with these new properties are.
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“The foundation has the option of leasing the property to generate new revenue. It could do a public-private partnership development on the site or it could sell the property for future development compatible with other university activities in that area of the campus,” Golding said.
The West Union properties were home to the now-closed BWS Happy Cat Drive Thru and a car wash. 30 and 32 Moore St. are listed as a commercial property class on the Athens County Auditor’s website. Though the properties sit on different streets, they are part of the same block.
“In consultation with the Ohio University Real Estate Department, the University Planner and University leadership, the foundation made the decision to buy the property in January 2015,” Golding said. “The property has been on and off the market for over a year and there have been informal conversations as to whether to buy the property or not during that time period.”
OU Foundation owns a myriad of other properties in Athens including the property next to the Episcopal Church on University Terrace, the Ohio University Inn and Konneker Alumni Center, Golding said.
In addition to Athens locations, the foundation owns other properties in Dayton in conjunction with the Russ College of Engineering, Golding said.
The owners of 207 W. Union St. previously held a liquor license, but that was not transferred to OU in the sale, Katie Quaranta, OU Spokeswoman, said in an email.
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