The College of William & Mary will purchase a commercial property on Scotland Street and a residence on Jamestown Road.
The college’s Board of Visitors authorized the purchases of 427 Scotland Street and 406 Jamestown Road in its Friday morning board meeting. The combined purchase price is $1.5 million, and is assumed to be settled before 2013.
The owner of both properties, Scotland Street Association, approached the college about selling the parcels because it hopes to dissolve and liquidate its business interests, according to the board’s resolution.
The Scotland Street building is a 5,880-square-foot commercial building the college had rented for the School of Education’s Gifted and Talented Program. The Jamestown Road residence is currently leased to students and is surrounded by college-owned property. At the meeting, Rector Jeffrey Trammell said the Scotland Street facility will house the new AidData Center for Development Policy.
The board also approved the transfer of less than one acre along the west edge of DePue Drive (formerly known as the Longhill Connector Road) to Eastern State Mental Hospital. The land was inadvertently left on the Eastern State side of the road when the road was first sited and constructed more than 20 years ago. Since then, Eastern State has maintained the property and requested the college transfer the “residue parcel.”
