Tennessee State University considers $15.5M airport property sale

Tennessee State University (TSU) is considering the sale of 35 acres of land located near the John C. Tune Airport to generate additional revenue. The property is valued at approximately $15.5 million.

Dick Tracy, the director of facilities development for the Tennessee Board of Regents, indicated that the university intends to negotiate with the Metro Nashville Airport Authority to sell the land at fair market value. The authority has reportedly agreed to allow TSU to remain on the property for at least one year at no cost.

Any proceeds from the sale must be directed toward capital investments, such as maintenance, new buildings, or dormitories. This move follows a period of fiscal improvement for the university, which recently reduced its budget deficit by more than $13 million through a five-year turnaround plan. Because the state of Tennessee holds technical ownership of the land, the sale requires approval from an executive subcommittee of the state buildings commission.