UO secures property for new arena

Sun., Jan. 6, 2008

Associated Press The Spokesman-Review

PORTLAND – A Eugene dentist has helped the University of Oregon clear the way for a new $200 million basketball arena by agreeing to sell his office just east of campus.

University President Dave Frohnmayer announced the deal to the state Board of Higher Education on Friday.

Dr. Karl Wagenknecht will also receive a university-owned parcel about a block away from his office. The undeveloped lot was acquired as part of the university’s purchase of a former auto dealership.

UO general counsel Melinda Grier said the university wanted to make the $2.05 million deal for the dental office without resorting to condemnation. “We think it’s a fair price, and it gets the property for the university without doing something we didn’t want to do,” she said.

Wagenknecht must vacate the property by Sept. 30, she said. The property is one of three the university needs to complete ownership of the entire site needed for the arena. Grier said negotiations for a parcel that houses a 7-Eleven store are continuing. The third parcel, a vacant storefront, will be acquired through condemnation because it has so many liens against it, she said.

Wagenknecht and his wife, UO finance instructor Jeanne Wagenknecht, previously told the state board they were not interested in selling. Their attorney asked the board not to approve condemnation authority, but the board did so anyway.

The UO plans to start building the 12,500-seat arena this year and hopes to have it open by late 2010.

Construction can’t begin until the Legislature approves the sale of $200 million in state-backed bonds to finance the project.

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