November 24, 2024 7:29 pm
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ABOR approves NAU parcel purchase, capital improvement plan

View of NAU from Lowell Observatory / Wikicommons

 

By Katie Devereaux | Arizona Daily Sun

With Thursday’s unanimous passing of the Arizona Board of Regent’s consent agenda came the board’s approval of Northern Arizona University’s $7.9 million purchase of land and of the university’s capital development plan, which includes the construction of a $139 million STEM building.

Land purchase

The land previously housed Super Pawn and Mandarin Buffet. It is already bordered on two sides by the university, by Milton Road on its western edge and by the Embassy Suites by Hilton to the south.

NAU will acquire the property from Northern Arizona Real Estate Holdings, which works on behalf of the NAU Foundation. NAREH is organized to finance, acquire, develop and operate real estate investments on behalf of the university and its foundation.

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© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.