Lofts Lexington Kentucky

UK in negotiations to move art department to University Lofts building

The University of Kentucky is in negotiations with the owner of the University Lofts on Bolivar Street to purchase the former tobacco warehouse as a new home for the art department, and that would include student and faculty art studios now housed in the deteriorating Reynolds Building.

The Board of Trustees will be asked at its meeting Tuesday to authorize the university to offer up to $6.7 million for the building, renovated about eight years ago by Lexington developer Rob McGoodwin into 86 loft-style rental apartments.

On Friday, Bob Wiseman, university vice president for facilities, said, "I am very optimistic we'll come to terms."

McGoodwin approached Michael Tick, the new Dean of the College of Fine Arts, last fall after reading that Tick said that doing something about the Reynolds Building was a top priority. McGoodwin showed Tick the Bolivar Street building and suggested UK lease it for the art department.

UK was not interested in renting, but it had the building appraised and did "some slight architectural work to make sure the various uses in the Reynolds Building would fit in this building," Wiseman said.

McGoodwin said on Friday he is "cautiously optimistic" that he and his business partners can come to an agreement with UK. "If we can make it work on our side, I think it could be a very, very smart move for the university," McGoodwin said. "We'll just have to see what they offer, and what the terms are."

He turned down a UK offer of $6.1 million, the property's appraised value.

Wiseman estimated renovating the University Lofts into classroom and studio space would cost about $8 million. Part of the cost would include taking down walls that form the apartments. Still it would be cheaper to buy and renovate University Lofts ($14.7 million total) than renovating Reynolds ($17 million).

If UK were to commit to a substantial renovation of Reynolds, space for instruction, studio and faculty offices would have to be leased for a year during construction. That would cost $1 million, Wiseman said.

Also, space UK rents at several locations for storage of records and material for about $150,000 a year would be saved because Reynolds would be converted to storage. "We could consolidate a great amount, if not all, our storage in Reynolds," Wiseman said.

The much-loved but dilapidated Reynolds Building on the west side of campus is home to the art department's faculty and student studios.

UK Proposes Buying University Lofts Building for Art Department ...

LEXINGTON, Ky. (June 14, 2011) − University of Kentucky Department of Art professors and students are celebrating today as the UK Board of Trustees authorized the university to negotiate the purchase of a Lexington building to become the department's new home. The university will enter into negotiations to acquire the privately owned former tobacco warehouse, currently known as University Lofts, located immediately adjacent to campus on Bolivar Street. 

Several years ago, UK began exploring a number of options to rehabilitate Reynolds Building No. 1 that houses instructional areas in the UK Department of Art in the UK College of Fine Arts. This process was made necessary due to significant structural problems in the aging former warehouse. Now the university believes it has found a solution that would not only meet the needs of the institution's art students, faculty and staff, but would also save money in necessary renovations to Reynolds Building No. 1.

University Lofts has a similar usable square footage as Reynolds Building No. 1, about 100,000 sq. ft.  But because University Lofts has recently been renovated, it is in much better condition than Reynolds Building No. 1. It is proposed that purchasing and converting this building is a more logical, fiscally responsible option to accommodate the needs of UK art students.

Reynolds Building No. 1 is a former tobacco warehouse and processing facility constructed in 1934 and acquired by UK in 1962. It has never had a major renovation, and the space is now nearly unsuitable and undesirable for student and faculty use due to general building age and unacceptable conditions, according to Bob Wiseman, UK vice president for Facilities Management. While some upgrades have been made over the years to keep the building compliant with safety and fire codes, an extensive $17 million renovation requested for state funding in 2008 was not appropriated.

Reynolds Building No. 1 with its tall, flexible floor areas, durable surfaces and large windows, has been home to the majority of faculty and students in the UK Department of Art for more than 30 years. An affinity for the "loft like" building has been voiced by some students, faculty and alumni over the years. These positive attitudes exist despite the building's many persistent problems. Although the facility features resilient materials, sound construction techniques and a sense of craftsmanship, significant improvements are needed in lighting, campus access, building egress, fire safety, ventilation and inadequate environmental control.

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