Sep
07

Colleges Buy Land They Don’t Know How They’ll Use

By
– Associated Press

Colleges and universities are buying up chunks of land at bargain prices, sometimes without a clear idea how they’ll be used.

Some are taking advantage of good sales during a sluggish economy, while others, like Columbia University, are continuing a practice they’ve done for decades, buying even if the price isn’t discounted.

The University of Dayton last year acquired the 115-acre world headquarters of technology company NCR Corp. for the fire sale price of $18 million after buying 50 acres from the company for three times the per-acre price in 2005. And the University of Delaware last year bought a 272-acre former Chrysler auto plant in Newark, Del. for $24 million.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

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