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| 04-08-2004 | Previous edition: 04-07-2004 |
        
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Printer-friendly version Research Foundation explains Tower Acres II at forumBy Liz BowerAssistant Campus Editor Nothing is firm about the Tower Acres II proposal, not even the name. In a forum Wednesday night, the Greek and cooperative community and Purdue Student Government were informed of the possible future opportunity to sell their houses to the Purdue Research Foundation and lease land on McCormick Road across from Purdue West. This development will have some similarities to Tower Acres. In the previous Tower Acres development, the foundation sold interested houses property to build a house with their own funds. Joe Hornett, senior vice president and treasurer of Purdue Research Foundation, said that any organization that would be interested in Tower Acres II is eligible. If the house happens to be in the target area then it fits into the foundation’s goal of buying property in advance for possible University expansion. As part of the University’s master plan, it identified target areas on University, Waldron and Russell streets for expansion. The possibility of a Tower Acres II is "an option, about choice not force," he said. Student needs have changed, said Hornett. "Owning a facility is not all it is cracked up to be. The possibility of entering into a long-term lease on a facility would make more sense," said Hornett. This way, he said, students wouldn’t have the headaches of maintenance that come with ownership. The Foundation will own the property and it already owns a great deal of student housing around campus. Hornet said that the foundation "is no different than any other landlord and no more or no less onerous then any other landlord. When we are in the real-estate business we are nothing like student housing. Groups that would inhabit these facilities wouldn’t be subject to any more governance by the University then they already are." He said that the foundation would be willing to sit down with the fraternity, sorority or cooperative and design any size house the student group wanted. "We are not going for the cookie-cutter approach for the houses." There are benefits for the foundation and Hornett recognizes them. "What’s in it for us, we are acquiring property on friendly terms. Also as a foundation we need to develop new income streams and student housing is one of them." Tim Jones, Interfraternity Council president, said that both the council and Panhellenic Association have had meetings with the dean of students and the vice president of student services. Stacie Warner, Panhellenic president, said she has yet to be convinced of the benefits of Tower Acres II, but alumni involvement is key. Printer-friendly version |
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