07:00 03.12.2008 | All news from "Real Estate News"
UPDATED: Little Rock Receives Four Bids on Ray Winder Field
The city of Little Rock on Monday received four bids to purchase its 3.82-acre portion of Ray Winder Field.
In a meeting on Monday, the University of Arkansas board of trustees approved a $1.1 million bid to buy the city-owned half of Ray Winder Field, and another $1 million to convert the 3.82-acre lot into a parking lot for the University of Arkansas for Medical Sciences, UA spokesman Ben Beaumont said.
The city will review the bids, a process that could last between one and two weeks.
The UA has expressed interest in purchasing the other portion of Ray Winder Field, a 3.03-acre lot owned by the state. But another board meeting must be held for that purchasing process at a later date, Beaumont said.
UAMS spokeswoman Leslie Taylor said the city-owned portion will be used for parking in the short term, but UAMS will "probably use it for something else down the road."
Taylor said the state-owned half of the property will be probably be used for more building space in a few years.
UAMS Chancellor I. Dodd Wilson requested earlier on Monday a proposal and bid to purchase the city of Little Rock's 3.82-acre stake in the field.
Both Taylor and Beaumont were unaware when construction would begin.
Other Bids
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