Macgregor Property Case Study
Houston Community College’s governing board approved the sale of two properties on Feb. 23.
First, they sold about 9 acres of undeveloped land near Highway 288 and MacGregor to the City of Houston for $13.8 million. Second, they sold three parking spaces at the West Loop campus to the Texas Department of Transportation for $32 thousand.
MacGregor Property.
The property was originally purchased to be HCC’s medical center campus, but with the development of the Coleman campus, HCC no longer needs this property.
The City of Houston will pay HCC $13,850,000 for the property, the same appraised value HCC purchased the land for in 2013.
In September 2015, the Board of Trustees declared the MacGregor property a surplus and authorized the chancellor to take action to sell the property. HCC has been in negotiations with the City of Houston and the college administration and the mayor have reached an agreement. …show more content…
I can see this thing blowing up on us.”
West Loop Campus Parcel.
The Board of Trustees approved the sale of about 595 square feet located near the far western entrance of the 16 acre West Loop campus for $32 thousand.
Due to the Texas Department of Transportation's reconstruction and improvements to Loop 610 and U.S. 59, TxDOT needs the parcel for the placement of a high mass light structure. The administration believes that the light fixture will not adversely the rest of the West Loop campus and that the loss of three parking spaces is trivial. The new campus parking garage was recently completed.
As a state agency, TxDOT has the power of eminent domain and acceptance of the $32,384 offer will avoid condemnation proceedings against HCC for the parcel. The trustees approved this sale without
First, they sold about 9 acres of undeveloped land near Highway 288 and MacGregor to the City of Houston for $13.8 million. Second, they sold three parking spaces at the West Loop campus to the Texas Department of Transportation for $32 thousand.
MacGregor Property.
The property was originally purchased to be HCC’s medical center campus, but with the development of the Coleman campus, HCC no longer needs this property.
The City of Houston will pay HCC $13,850,000 for the property, the same appraised value HCC purchased the land for in 2013.
In September 2015, the Board of Trustees declared the MacGregor property a surplus and authorized the chancellor to take action to sell the property. HCC has been in negotiations with the City of Houston and the college administration and the mayor have reached an agreement. …show more content…
I can see this thing blowing up on us.”
West Loop Campus Parcel.
The Board of Trustees approved the sale of about 595 square feet located near the far western entrance of the 16 acre West Loop campus for $32 thousand.
Due to the Texas Department of Transportation's reconstruction and improvements to Loop 610 and U.S. 59, TxDOT needs the parcel for the placement of a high mass light structure. The administration believes that the light fixture will not adversely the rest of the West Loop campus and that the loss of three parking spaces is trivial. The new campus parking garage was recently completed.
As a state agency, TxDOT has the power of eminent domain and acceptance of the $32,384 offer will avoid condemnation proceedings against HCC for the parcel. The trustees approved this sale without