University of Mary Washington - Index

University of Mary Washington - summer08 - Index

Real Estate Purchases ���������������������
As the University of Mary Washington embarks upon
its second century, it isn’t just getting older, it’s getting
larger. Some of UMW’s recent acquisitions in the city of
Fredericksburg and in Stafford and King George counties will
result in, among other things, increased student housing and
additional parking for athletic events. Here are some details
on the University’s current real estate projects:
Dahlgren Education and Research Institute
Last spring, UMW received $2 million from the Virginia
General Assembly to purchase land on U.S. Route 301
near the Naval Surface Warfare Center Dahlgren in King
George County. This past April, legislators approved a
bond package that includes $18.4 million toward the
construction of a third UMW campus on that site. The
first building, which will be about 40,000 square feet,
is expected to be completed by summer of 2011. In
conjunction with other universities, offerings on the
Dahlgren campus will include courses in engineering,
computer science, homeland security, and other
related fields. Participating schools include George
Mason, Old Dominion, and Virginia Commonwealth
universities; Virginia Tech; the University of Virginia; and
Rappahannock and Germanna community colleges.
Eagle Village
The University of Mary Washington Real Estate
Foundation has hired Thalhimer/Cushman & Wakefield to
handle leasing and property management at the 21-acre
Park & Shop site it purchased late last year for $18.75
million. The property, now a shopping center anchored
by Giant Food, is located across U.S. Route 1 from the
Fredericksburg campus and increases the campus’ size
by a third. The Foundation expects to spend at least $60
million more to build a pedestrian-friendly mixed-use
“village” that will include housing for students, staff,
and faculty; improved retail offerings; office space;
a performing arts center; and a movie theater. Plans
also include a walkway over U.S. 1 to connect the
village to the existing campus. The first phase of work,
construction of student housing, is slated to begin next
year. For more information, visit www.umw.edu/village.
Also, the UMW Real Estate Foundation has practical
reasons for making two additional purchases. By acquiring
a stone house, located at the intersection of William and
Hanover streets, the University would be able to provide
access to a UMW-owned field, which would be turned into
parking spaces for athletic events. In the vicinity of Gari
Melchers Home and Studio in Stafford, the University plans to
buy two acres in order to protect the land from development.
PARK & SHOP
1
COLLEGE AVENUE
Among UMW's current real estate endeavors is the purchase of
the stone house at the corner of William and Hanover streets
(top) to allow access to a UMW-owned field that would be turned
into a parking area. Also in the works is Eagle Village, a mixed-use
project to be built in the newly acquired Park & Shop retail center
across U.S. 1 from the University's Fredericksburg campus.
UNIVERSITY OF MARY WASHINGTON MAGAZINE��������������� �
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Karen Pearlman
Christopher Wehling, The Free Lance-Star