The North Arkansas College Center Campus, formerly Regions Bank, may soon have a new owner. The college advertised the property including the tower, the Durand Center, the connecting atrium and the immediate parking lot located on a 2.6 acre site at 303 North Main in Harrison for sale earlier this month.When the bids were opened, three interested parties emerged. Selection of a center campus proposal is one of two items of business on the agenda when the college’s board of trustees meets at 4 Thursday in special session.The City of Harrison offered $70K for the Durand Center, if the college demolished the tower. Powermax Electric based in Springfield, made two offers. The company offered $40K for the Durand Center if the tower was demolished and offered $180K for the entire property.
Jeff Crockett, former mayor of Harrison and owner of Crockett Properties, submitted the high bid of $712K for the entire property.
Dr. Randy Esters, Northark president, says, “Im glad that our efforts to carefully navigate the complex issues involved in this process have paid off. He says, We wanted to find a solution that is positive for both the college and the community. I feel good the offers we received have put Northark in a much better financial position while opening doors to new possibilities for the future of the property.
Last August, mold was discovered in the tower causing employees to be evacuated to other locations. College officials examined a variety of options to preserve the building, but found the cost of repairs would exceed the value of the building. Estimates for repairs ranged from $4-10M.
College officials moved forward with the understanding the Durand Center could be owned only by a government entity, prompting Northark to offer the tower side for sale last spring. No offers were received.
The college has since discovered the entire property could be sold to either government or non-government entities.
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