Kent State Spending $763,500 on 2 Rental Houses

is closing in on the $4 million mark in spending on residential properties in the neighborhood west of the Kent campus.

The university's board of trustees approved the purchase Wednesday of two more properties in the neighborhood. Once approved, that will bring the university's total number of properties purchased in the neighborhood to 25.

The properties and their purchase prices are: 128 S. Lincoln St., $464,000; and 324 E. Erie St., $299,500. Combined with the , Kent State will have spent more than $3.8 million once the state signs off on these two purchases.

Kent State officials remain tight-lipped as to whether the university plans to buy more properties in the neighborhood.

"I don't really want to speculate about what we might or might not be buying in the future," Kent State University President Lester Lefton said. "The university continues to acquire properties that it thinks will be beneficial to our overall campus plan and the downtown development."

The purchase prices for the properties are below the values determined by independent appraisals completed in December, according to the university. The appraisals were not released Wednesday.

Kent State trustee Patrick Mullin said these most recent purchases, like the previous 23, are for expansion of the Kent campus. Specifically, these purchases will help extend The Esplanade pedestrian walkway from campus, through the neighborhood and into downtown Kent where the university is planning to build the new .

"These properties have high strategic value to the university," Mullin said.

Both properties are approved, licensed rooming houses registered with the . The South Lincoln Street house is approved for a maximum occupancy of 26 tenants, according to its rooming house license. The Erie Street house is permitted a maximum occupancy of 11 tenants, according to its license. Both houses have been licensed rooming houses with the health department since the early 1970s.

Both properties also are owned by A&H Investments Joint Venture LLC. James Hauch, one of the owners of the properties, told the Daily Kent Stater he owns 18 properties in Kent.

The Erie Street purchase will give the university control of almost every parcel lining both sides of East Erie Street, which will be closed to through traffic for construction of The Esplanade. Work on the project is expected to begin in the spring of 2012.