University of Iowa looks to sell Mayflower Residence Hall

Flood waters have reached the HESCO obstacles at Mayflower Residence Corridor on Dubuque St in Iowa Metropolis on Thursday, July 03, 2014. (Adam Wesley/The Gazette-KCRG)

IOWA CITY — Practically 55 years after a personal agency constructed the Mayflower Condo Group overlooking the Iowa River, marketed to college students as a “luxurious” dorm — and 40 years after the College of Iowa purchased the eight-story constructing outright — UI is planning to promote its Mayflower Residence Corridor.

With these sale proceeds — plus any borrowing they should do — UI directors wish to construct a brand new $40 million to $60 million residence corridor for returning college students. Presently, most UI residence corridor house is prioritized for freshmen.

“In-built 1968, the Mayflower Residence Corridor is positioned over one mile from educational courses, meals service, and residence corridor neighborhoods,” based on a UI abstract of its housing grasp plan going earlier than the Board of Regents subsequent week.

“For first-year college students, it’s the last-chosen and first-transferred-from residence corridor.”

The grasp plan signifies a brand new returning-student corridor might home between 250 and 400 beds — making it related in measurement to Stanley Corridor, housing 354 college students north of Burge Corridor on the east aspect of campus, or Daum Corridor, housing 344 college students simply south of Burge.

The plan goals to construct the brand new corridor on UI-owned land on the east aspect of campus.

UI officers, as a part of their housing grasp plan, additionally shared plans to undertake a sequence of renovation initiatives costing $5 million to $10 million every. Though directors within the paperwork didn’t spell out specifics of these potential initiatives, they did point out work underneath $5 million is deliberate for Daum subsequent yr and Rienow Corridor on the west aspect in 2027.

Upgrades over $5 million are deliberate for Currier Corridor on the east aspect subsequent yr; Burge this yr and once more in 2026; and Hillcrest Corridor on the west aspect of campus. A $23 million venture to improve Hillcrest started final yr, with plans to wrap in 2024.

Funding for these upgrades will come from UI housing renewal and enchancment funds, whereas UI plans to pay for its new returning-student corridor with Mayflower sale proceeds and debt, based on regent paperwork.

“A seek for a purchaser is in progress,” UI officers mentioned within the board report.

Mayflower Evening Membership

Though Mayflower at 1110 North Dubuque St. sits a couple of mile from the UI Pentacrest, educational buildings, and Iowa Metropolis’s downtown, it’s solely a brief stroll to Iowa Metropolis parks, the Iowa River path, and Hancher Auditorium.

Mayflower homes 1,032 college students in suite-style rooms — that means college students in a single or double room share a kitchen and a rest room with one different room. They’re furnished with desks and lofted beds and supply facilities like air-con, a health heart, comfort retailer, and Cambus service.

For the present educational yr, Mayflower’s double room charges are $4,254 — under different related items in Burge, Daum, Catlett Corridor, and Rienow, for instance.

The 326,287-square-foot Mayflower Corridor was constructed within the Nineteen Sixties rather than what began in 1851 because the Water Terrell Mansion, dwelling of the Iowa Metropolis entrepreneur who constructed a dam and grain mill on the Iowa River. The mansion within the Nineteen Thirties or Nineteen Forties grew to become the Mayflower Inn, that includes the Mayflower Evening Membership, earlier than it was demolished and changed with the Mayflower residences.

The college started leasing parts of the constructing in 1979 as a consequence of overcrowding in its halls and acquired it outright in 1982. UI in 1999 spent $1.5 million renovating Mayflower to incorporate a sport room, espresso store, and multipurpose room.

It suffered in depth flood harm in 1993 and 2008, and group leaders collaborated to boost its adjoining Dubuque Avenue above the 100-year flood plain.

By promoting Mayflower, UI will take away from its books deferred upkeep prices. And whereas it should quickly scale back the college’s 6,527-student housing capability, UI plans to maintain utilizing its getting older Parklawn Corridor — which directors deliberate to raze however saved open this yr to fulfill on-campus housing demand.

‘Till new beds are constructed’

Though UI noticed a dip in residence corridor occupancy throughout the pandemic — dropping to 78 p.c in fall 2020 and inching as much as 85 p.c in fall 2021 — the campus is again as much as 97 p.c, based on a brand new Board of Regents residence system report.

UI, based on that report, plans to scale back its on-campus housing capability to five,679 within the coming years — anticipating beds can be 100-percent full as soon as that occurs. With room and board charges proposed to extend 4.2 p.c subsequent yr, UI Housing and Eating expects to generate $88.2 million — to be offset by rising expenditures, leaving it with a web income $12.9 million, down from the present yr’s estimates of $13.3 million.

“Till extra beds are constructed, the capability of the residence system with out Mayflower can be decreased,” based on the report, indicating not all returning college students who wish to maintain residing within the halls can be allowed to — at the least quickly.

“The variety of returning college students will should be intently managed, with not all returning college students in a position to return to reside within the residence system till new beds are constructed.”

Vanessa Miller covers increased training for The Gazette.

Feedback: (319) 339-3158; vanessa.miller@thegazette.com