The University of Wisconsin-Milwaukee has obtained an option to buy the Columbia St. Mary’s Hospital campus in Milwaukee for $20.2 million and will ask the Wisconsin Building Commission to approve the deal at its meeting Wednesday, according to UWM.
The nearly 11-acre site at 2025 E. Newport Ave. is adjacent to UWM’s 92-acre East Side Milwaukee campus and contains seven buildings with 828,000 gross square feet of space, according to a release from the university. Also included is a five-story parking structure with 788 parking spaces, and another 174 surface parking spaces.
Potential uses for the property include student services and academic/instructional space, according to the release.
The Columbia St. Mary’s campus is one of six projects included in the UW-Milwaukee Initiative, according to the release.
The property became available because of consolidations by Columbia St. Mary’s, which plans to open an expanded Columbia St. Mary’s Hospital Milwaukee about one mile south of the UWM campus in October and will be leaving the hospital and related facilities on the property next to the UWM campus by year end, according to the release.
The $20.2 million purchase price was the average of two appraisals of the property. The purchase price of property acquired by a state agency can be no more than the average of two appraisals, according to the release.
The acquisition would be the largest expansion of the East Side campus since UWM acquired the 43-acre, 14-building Milwaukee-Downer College campus in 1964.