UT acquires key plot for development, will raze BP gas station
Dec 9, 2008
The University of Toledo Foundation recently completed the purchase of land currently home to a BP gas station at the corner of Dorr Street and Secor Road on the southwest corner of Main Campus.
As part of that agreement, the land is undergoing environmental remediation as the gas pumps, underground tanks and gas lines are removed and the soil tested to ensure it meets the standards of the Environmental Protection Agency, according to Matt Schroeder, vice president for real estate and business development for the UT Foundation.
“We’ve been negotiating to buy the land since January of 2008 and finalized the purchase agreement in July,” Schroeder said.
He said the corner lot was one of the most strategic pieces of land UT has had its eye on since the merger because of the way it fits into the overall development strategy the University is formulating with neighborhood groups, the city, Lucas County and other stakeholders.
“This was the last piece of land north of Dorr Street we didn’t own,” he said.
According to Schroeder, once the environmental remediation is complete, UT will raze the convenience store and turn the lot into green space until it is ready for development.
Buildings on several other properties owned by the UT Foundation on the south side of Dorr Street also will be torn down and converted to green space in the next few months, he said.
Schroeder emphasized the lot was purchased with private funds and that no tuition, student fee or government money was used.