By WisBusiness.com staff
MADISON — The state Building Commission this week is poised to consider a proposed land swap that will help the University Research Park meet demand until an annex is available for development.
Documents from the state Building Commission, led by Gov. Jim Doyle, show that CUNA and the University Research Park are planning the land swap at its current location so the park can meet demand for new buildings before construction on its new far West Side site starts next year. The item is on Thursday’s Building Commission agenda.
Currently the 225-acre park, located at the intersection of Mineral Point Road and Whitney Way, has just three building sites remaining. The additional acreage would give the park four additional building sites, allowing it to meet demand until University Research Park II opens on Madison’s far West Side in mid- or late 2005.
Mark Bugher, the park’s director, said recently that the new development will have room for 53 sites.
The university plans to exchange 12.4 acres of its land, valued at $3.8 million, for 20 acres of CUNA’s land, valued at more than $4.3 million. No cash is involved in the transaction, but CUNA has agreed to accept the values as equal.
The university land includes buildings at the intersection of Mineral Point and Rosa roads currently used by the School of Veterinary Medicine and the College of Agriculture. Their operations would be moved to other facilities and the buildings would be torn down so CUNA can build an office facility across Mineral Point Road from its headquarters.
- See more on the University Research Park.
- See a past WisBusiness.com interview with Bugher.
