UT Tyler set to purchase The Reserve Apartments
Published 11:12 am Monday, February 26, 2018
- Courtesy University of Texas Tyler Logo
The University of Texas at Tyler will seek to purchase The Reserve Apartments for student housing.
UT Tyler will make a proposal to UT System Board of Regents on Tuesday for authorization to purchase the property at 2851 County Road 272.
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The 108-unit apartment complex sits on 8.31 acres of land near the campus, just off of University Boulevard.
The property was appraised at almost $9.8 million in 2017 by the Smith County Appraisal District. The proposal by UT Tyler would limit the purchase price to fair market value established by an independent appraisal by Abel Appraisal Services in December.
The complex also borders the 120-acre “East Campus” property the college purchased in 2016.
UT Tyler previously purchased the apartment complex now known as Eagle’s Landing in 2014.
After several years of effort by UT Tyler police and the city of Tyler, the crime rate at nearby apartment complexes dropped dramatically, with the exception of The Reserve. This was determined through the number of calls for service, something the Tyler Police Department tracks for area apartment complexes.
The privately owned apartment complex at 3400 Varsity Drive, currently known as The Foundry, saw a decrease in calls for service of close to 75 percent from 2014 through the end of the 2016-17 school year.
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The Reserve saw no significant change in calls for service during the same period.
Crime at Eagle’s Landing dropped dramatically after purchase by the university, thanks to enhanced security measures and resident assistants on duty.
UT Tyler Vice President for Marketing Lucas Roebuck said the university plans to take the successful measures implemented at Eagle’s Landing and apply those lessons once the transaction closes and the property is converted to resident housing.