UNT to move ahead with plan to purchase Sack N Save

[Harry]

The University of North Texas can now move forward with purchasing the Sack N Save building at 1500 Interstate 35E.

The UNT Board of Regents voted unanimously for the chancellor or a designee to move forward with buying the property for $6.25 million.

The property was valued $2,155,200 by the Denton Central Appraisal District last year.

In September, the board authorized the chancellor or a designee to work on an agreement to buy the property, and use eminent domain if a deal could not be reached.

Read more: http://www.dentonrc.com/local-news/local-news-headlines/20150408-unt-to-move-ahead-with-plan-to-purchase-sack-n-save.ece

This post has been promoted to an article

[UNT90]

Good news.

[UNTflyer]

Why would we pay 3x the property value?? That could have gone toward the convention center to make the deal palatable for everyone.

[UNT90]

My guess would be to avoid having to declare eminent domain and face another petition by students against their mean capitalist university and the bad press that would accompany it...

Edited April 9, 2015 by UNT90

[Harry]

Worth every penny to remove that damn eyesore!

We can finally have an entrance worthy of our fine University!

[Ben Gooding]

Great news! Now mow that place down and throw down a nice entry with symettrical trees, light poles and a Universuty of North Texas signage similar to the one over next to the old Exxon.

[adman]

Why would we pay 3x the property value?? That could have gone toward the convention center to make the deal palatable for everyone.

Taxable value and market value are typically different. As an example a house across the street from me just sold for nearly $150k more than it's taxable value - and while I don't know the ins and outs of commercial real estate, Id say you probably have to pay value of property PLUS earning potential of that property factored in over a number of years since the property owner won't be able to collect those rents once it is sold.

[James]

About time we remove the eye sore.

[oldguystudent]

I need to drive up to Denton this weekend and purchase one last bottle of expired malt liquor self bagged in musty plastic.

RIP Sack N Save. I hardly knew ye...Mostly because the only time I ever set foot in you was when I'd run out of beer, really didn't need more, but your welcoming fluorescent lights called me like a siren in the night to get more.

[UNTexas]

Bravo

[GreenTexan13]

I wont miss the fruit flies buzzing around the fruit near the front entrance!

[Rudy]

I wont miss the fruit flies buzzing around the fruit near the front entrance!

Or the cockroaches on the floor doing their weekly shopping.

[Aldo]

Taxable value and market value are typically different.

^This, thankfully.

Also, where am I going to get my fresh masa for tamales?

[oldguystudent]

^This, thankfully.

Also, where am I going to get my fresh masa for tamales?

Is the Aztec market down 35 still standing?

[Ryan Munthe]

Or the cockroaches on the floor doing their weekly shopping.

And the smell of cat piss in the air.

[oldguystudent]

Or the cockroaches on the floor doing their weekly shopping.

They're doing the shopping for the ingredients at Pancho's buffet, the only restaurant where I've seen TWO live roaches scurry across my plate, to which the lady working there said, "Just brush them away."

[Travis]

I always thought it was over-priced than their competitors.

[greenit]

Great news for UNT. I hope they are able to build an entrance that shows off the university.

[Cerebus]

[Green P1]

Why would we pay 3x the property value?? That could have gone toward the convention center to make the deal palatable for everyone.

I'm assuming they chose to let RV negotiate the buyout.

[Harry]

It will be fun to speculate on what it may be.

[Quoner]

I read it was a Sack & Save in name only, though. He executed like a Stop & Shop if you look past the rhetoric and at actual store performance.

[UNT90]

I'm assuming they chose to let RV negotiate the buyout.

Funny...

[Aldo]

Is the Aztec market down 35 still standing?

Yeah but they don't sell fresh masa anymore. I checked...

[All About UNT]

They're doing the shopping for the ingredients at Pancho's buffet, the only restaurant where I've seen TWO live roaches scurry across my plate, to which the lady working there said, "Just brush them away."