CUNA Mutual, University of Wisconsin Propose Land Swap
CUNA Mutual Group and the University of Wisconsin are trying to gain state and city approval for a proposed land swap in which no money would change hands.
"The university owns the land that is directly across the street from us and has frontage onto Mineral Point Road," explained CUNA Mutual Group's Sydney Lindner. "We own the land that's right next to their research park."
The two parcels of land are not the same size-CUNA Mutual owns 20 acres while the school owns 12.4 acres-but because the school's parcel has the frontage, it is more valuable per acre than the CUNA Mutual land, so the two groups have agreed to an even exchange.
"The situation we have is that we have outgrown the buildings on Mineral Point Road, so we have had to rent space in other buildings that we do not own and that are not within walking distance," Lindner said.
Assuming the swap gains all the necessary approvals, CUNA Mutual would plan to break ground on the first phase of the project in about 18 to 24 months.