By Dan Bauman and Megan Favignano
In 1970, Webster College purchased 31 pieces of land and property for $125,000. Since then, the university has continued to purchase residential properties in the Webster Groves community. During former Webster University President Richard Meyers’ tenure, the university purchased nine residential properties that still exist.
Under President Elizabeth Stroble’s administration, the university has purchased four properties, the most recent being the residences at 102 Mason Ave. and 8376 Big Bend Blvd.
Webster purchased 102 Mason Ave. for Stroble in 2012 for $935,000. The house is considered part of her compensation. It eliminated the $60,000 housing allowance university paid Stroble before 2012, according to the university’s 2010 filing with the Internal Revenue Service.
An occupant has yet to be named for the university’s most recent purchase, a two-story, four-bedroom house at 8376 Big Bend Blvd. The university bought the house in September 2012 for $385,000. Renovations continue on the house.
“At this point, the plan is once the exterior is finished it’s going on the rental market,” Giblin said.