“Readers of the local newspaper may think the University of Akron is in the middle of scandal. Not so fast. Sure, it makes for great headlines when the university buys a house from a relative of a board of trustees member. Especially considering when that relative purchased the home only a year ago.”
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Readers of the local newspaper may think the University of Akron is in the middle of scandal.
Not so fast.
Sure, it makes for great headlines when the university buys a house from a relative of a board of trustees member. Especially considering when that relative purchased the home only a year ago.
It seems like it has the ingredients of a blockbuster story: insider information, back-room deals, hushed tones, fat paychecks.
The only problem is, this real estate deal has none of those ingredients.
Jack W. Morrison Jr., through the company in which he is involved, purchased a Spicer Street house for $77,000 in 2006.
People seem to think that UA gets first dibs on every house that goes up for sale around campus. That’s simply not the case. The university is a prospective buyer, same as everyone else.
There’s no rule in place that any property for sale can only be sold to UA. It’s a free market, after all.
Morrison purchased property in a prime investment area. In fact, he owns about 20 around UA.
How many other individuals own property in the area? Maybe someone should check those folks out, too.
After all, they may have read the Akron Beacon Journal or the Buchtelite over the past several years. Or, they might drive around campus with their eyes open.
For those of you who’ve missed it, the campus and surrounding area are being revitalized. There’s that little endeavor called the Landscape for Learning.
Familiar with Spicer Village? Or University Park, for that matter?
You would be, if you happened to pay attention to your surroundings over the past, oh, six or seven years.
Several years ago, the Buchtelite published a large story on UPA’s plan to make Akron a walking city. It even had artist’s renderings.
None of these projects is secret. So why are people instantly questioning the ethics of the Morrison family?
There was no information for Morrison’s father, a UA board of trustees member, to share in this situation. Well, other than, Do you notice all this revitalization, son? That’s a real opportunity. Wink, wink.
That’s absurd.
The bottom line is: Anyone with any business sense – and good credit – could be in a position to make a few bucks.
Not enough to retire on, of course, but maybe a few bucks. Isn’t that the idea of real-estate investment anyway?
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