Union recently sold property for close to a million dollars, and the university is using the money to help fund the library project and purchase new property.
In April 2012, Lloyd Hansen donated an office building in Cordova, Tennessee to the university, said Gary Carter, senior vice president for business services. The building, located at 1055 Houston Levy Road in Cordova, was originally planned to be used as part of the social work program at the Germantown campus, but that program was started on the Olford Center campus instead, Carter said. He said that Union then looked into selling the property.
“It was an unrestricted gift,” Carter said. “So it was given with the option and understanding that we could sell it.”
University President Samuel W. “Dub” Oliver said the sale of the property was finalized Nov. 3. The university received $983,000 from the property. Half of that money will be put to use in the new library project, and the rest will go to purchase 25 acres of land across Pleasant Plains Extension.
“We already own 75 acres over there,” Carter said. “This gives us the rest of the property all the way to Country Club Lane.”
Carter said the university already has a contract to purchase the land from Jackson Christian School, but they are waiting for a few legal issues to be worked out for the sale to final.
“This is really the last land available adjacent to this campus,” Carter said. “This will help us position Union for the future as we hope to continue to see the campus expand.”
Carter said there are no building plans across Pleasant Plains at this time, but the property will be used as necessary when needs arise. He said Hansen is a long-time friend of Union who was involved in the energy industry. He said that Union is grateful for the donation and always appreciates generous donors like Hansen.
“He really believed in what we do here,” Carter said. “His gift will help us greatly.”
