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Committee backs CU Boulder purchase of 2350 Arapahoe Avenue
Summary
The committee recommended support for CU Boulder’s planned purchase of 2350 Arapahoe Avenue for about $3.9 million, to be funded from auxiliary reserves; the recommendation was unanimous 6–0.
Todd Hegarty, senior vice chancellor for finance and business at CU Boulder, presented a plan for the campus to buy 2350 Arapahoe Avenue for roughly $3.9 million to assemble contiguous campus property. Hegarty said the purchase would be funded from auxiliary reserves managed by the university’s real‑estate program and that the existing tenant (a restaurant on a month‑to‑month lease) may remain as CU develops longer‑range plans for the site.
Senator Bazely and other members expressed support for acquiring contiguous campus property to facilitate future campus planning. Senator de Molica moved to approve the new project on the University of Colorado Boulder two‑year cash projection; roll call showed a unanimous recommendation, 6–0.
Next steps: CU will proceed with its internal real‑estate process and report progress to committee staff as the university completes due diligence and longer‑range planning.
