The Arizona Board of Regents has granted the University of Arizona permission to purchase the $1.3 million home where President Robert Robbins lives just east of campus in the Sam Hughes neighborhood.
The school will buy the property from the UA Foundation β a private organization that manages private donor gifts to the UA β for the same amount the foundation bought it after Robbins selected it last August. The UA expects the home to appreciate in value.
The foundation will also donate to the school all the furnishings in the remodeled 3,756-square-foot, 1936 Spanish mission style home, which features four bedrooms, three baths, a pool and fountain, and separate office and gym.
In addition to serving as the presidential residence, it will serve as an event space for functions hosted by the president. The acquisition will allow the school to maintain the property to its standards, add disability access and use UA Police Department to secure the property during such events, for example.
Robbins, who receives a $70,000 annual housing allowance as part of his nearly $1 million pay package from the university, has been paying rent to the foundation to live in the home.
He will no longer receive the housing allowance once the university buys the home, which will be purchased with capital funds.
