UI will seek new site for Studio Arts building

The University of Iowa will search for a new site for the Studio Arts facility, after negotiations to buy private property near the arts campus failed, officials said Thursday.

UI officials spent several months negotiating to buy 119 River St., 125 River St. and 203 River St., private properties owned by Thomas M. Martin. UI officials wanted those three sites, in addition to some adjacent UI-owned properties, to be the new home for the Studio Arts facility, displaced by the 2008 flood.

But Doug True, UI senior vice president for finance, told the state Board of Regents Thursday negotiations were unsuccessful.

"We determined about two weeks ago that this is going nowhere," he said. "We're not going to be able to acquire this property at any reasonable price, so we've abandoned that."

UI officials are commited to finding a different location to build a new Studio Arts facility in that same area, True said, so it's close to the arts campus and to the Art West building.

Also at Thursday's telephonic regents meeting, the board approved two UI property purchases and the UI lease of a downtown apartment building.

UI Hospitals and Clinics will spend $11.7 million to buy 40.17 undeveloped acres at the southwest corner of Highway 965 and Forevergreen Road in North Liberty. It's likely that land will be used at least partly for the replacement of the UI Family Care Clinic, now at 3 Lions Drive in North Liberty, UI Spokesman Tom Moore said. The Family Care Clinic sees about 100 patients daily but was designed for about 25 daily, Moore said.

In a second property purchase, the UI will spend $3.1 million to buy a downtown bank to be used as the future home for the School of Music, displaced by the 2008 flood. The UI also will pay $350,000 in relocation costs to Bank of the West, 301 S Clinton St.

UI officials also received regents approval to lease an entire downtown apartment building for two years, due to record enrollment and insufficient space to house students on campus. The UI will lease the building at 121-131 Davenport St., at a base rate of $760,560 for the first year, while a new residence hall is designed and built.