A Lincoln home has been purchased with private funds to serve as the official residence of the president of the University of Nebraska.
The University of Nebraska Foundation, acting at the direction of the chairman of the Board of Regents on behalf of the Executive Committee, closed on the sale of the home, located at 9300 Tuscan Court in Lincoln, on June 1. Built in 2000, the ranch-style residence contains approximately 4,450 square feet of finished space on the main floor and 3,250 square feet of finished space in the daylight lower level. The purchase price was $895,000.
The official residence is owned by the University of Nebraska Foundation and will be used extensively for events with students, faculty, donors, business leaders, policymakers, visiting national and international dignitaries, and other constituents and friends of the university.
The purchase of the home follows a September 2012 decision by the Board of Regents to return to the long-standing practice of providing an official residence supported by non-state funds to accommodate the volume of university business and entertainment that occurs in a president’s residence. The university had done so for more than three decades until 1996, when the foundation-owned official residence was destroyed by fire.
NU President Hank Bounds and his family are expected to occupy the residence this month.