A $2.9 million residence in San Marcos' Spring Lake Hills neighborhood will serve as the home for Texas State's next university president.
The university announced Monday the property was purchased using unrestricted institutional reserves under the approval of Texas State University System Chancellor Brian McCall.
The new property, located at 103 W. Laurel Lane, sits on 2.7 acres and is less than one mile from campus.
Texas State will take occupancy of the home in March 2022. Current university president Denise Trauth will continue to reside at the president's house on campus until she retires in May 2022.
According to Texas State, the purchase will allow the university to make better use of the location where the current president's house is located on the San Marcos campus. The university's 2017-2027 University Master Plan recommends the site be used for academic or research facilities.
“With a presidential transition underway, and in light of the university’s need for additional academic and research space on campus, this was a unique opportunity to acquire a residence that will serve the university for decades to come,” McCall said in a statement.