NewsChannel 11 has learned more about the future of the University Plaza. The building closed its doors to residential tenants in August of last year after the owners filed bankruptcy. Over the weekend, the five remaining retailers moved out after receiving five days notice.
Wednesday, NewsChannel 11 contacted the new owners, Student Housing Solutions. They tell us the merchants were notified in January that they would have to re-locate. We also learned One Guy From Italy made an agreement in January to return to the building once construction is complete.
As for renovations, the developers plan to convert the 500 room dormitory into a 320 unit loft-style student apartment complex. They are renaming it U-Lofts Lubbock.
Dean Minardi with Student Housing Solutions says, "It will look like a brand new building that was built to the design guidelines of the Overton Park District." The project will cost $15 million. Construction is expected to be complete by August 2007.
|NewsChannel 11 News Story Archives-2006|