Iowa City, IA- The University of Iowa is seeking approval from the Board of Regents for a purchase that would give it full ownership of a downtown Iowa City mall.
Radio Iowa reports the purchase would cover 45% of Old Capitol Town Center, which the school does not own, at a cost of nearly $21 million.
The mall is two blocks from the center of the main UI campus. The university has been using the portion of the building it owns for what it calls a UI student and staff transaction hub.
The information for next week’s board meeting says the school would continue developing the mall spaces to serve student and operational needs.
The university plans to continue to maintain the retail space to help offset the costs.
