We are re-posting portions of this article from November 2017 due to the recent news of an unsolicited proposal received for the redevelopment of the UVA/VATech campus. The current lease of the property is $1/year.
The UVA/VaTech building deal was the winning offer from Falls Church City and Fairfax County in a regional competition to relocate the grad center from its former Merrifield location to its current site. UVA/VaTech has a 40 year lease for $1 per year that started in 1995 and expires in 2035. The universities have an option to purchase the property in 2021 (26th year) for $3,350,000 minus a $500,000 credit that was used to renovate the Technology Learning Center in GMHS. For several years, the TLC was a shared space between GMHS and the universities, with classrooms equipped for distance learning.
The purchase price of the land increases by 3.6% each year after 2021. The property is restricted to educational or government use but the universities can sublet to another Virginia institute of higher education. If UVa/Va Tech purchases the property and then sells to a 3rd party after purchase the City gets 33% of the adjustable value.
The universities agreed to provide graduate education courses to FCCPS staff, up to $25K annually, and we understand that the courses are still being offered today.
A former employee at the UVA/VaTech center indicates that there are many classrooms, offices, distance learning computers in the current building and is primarily used in the evening. The IB students have been known to use the classrooms for IB exams and other classes. It would appear that we may be able to negotiate an agreement to use the building to offset crowding issues but we have not heard anything from the City or School Board to know if they have inquired about doing this for short or long terms.
The full original article can be found here.