By Ethan Ball
HCC recently purchased two aging residences, leaving four left to complete their acquisition of property between 14th and 15th and between Ford and Plum streets.
“We acquire property that fits into the campus master plan, and the campus master plan is a long- term vision for the college,” said Dr. Carter File, president of Hutchinson Community College.
“If we don’t acquire properties, we have no space to grow,” File said.
Currently, there are no plans to add new buildings or dormitories.
“We’re purchasing them so that the space and the property is available in the future for whatever additional campus use we may need,” he said.
“If we don’t acquire the property when it’s available we lose the opportunity.”
In the meantime, the college plans to rent the homes out.
“We earn better money on the rental of the property than we do on (bank) CD’s,” the president said.
HCC has been buying properties and land from nearby owners since 1938, when the Board of Education first acquired land on Plum Street.
“Most of the time, the owners have contacted us and told us they’re interested in selling,” File said.
If there is a direct sale between an owner and a purchaser, you don’t have to pay brokerage fees,” he said.
“Direct sale lowers the purchase price of the property and the owner can benefit by not having a broker involved.”