Southeast Missouri University Foundation Purchases Broadway Properties

CAPE GIRARDEAU, Mo.,

Feb. 2, 2009 – The Southeast Missouri University Foundation entered into an agreement today by which properties located at 834 Broadway and 900 Broadway will be transferred to the Foundation for use by Southeast Missouri State University.

The properties include the Howard’s Athletic Goods two-story retail building at 900 Broadway and the former Sinclair gas station at 834 Broadway, both of which were owned by Dave Howard. Howard’s Athletic Goods is located on the northwest corner of Pacific and Broadway, and the former Sinclair gas station is located on the northeast corner of that intersection. Howard’s Athletic Goods, which had been located at 900 Broadway for 62 years, relocated Jan. 26 across the street to 835 Broadway.

Trudy Lee, director of planned giving at Southeast, said the transaction will result in a charitable gift from Howard to provide support to future Southeast students and local charities.

Kathy Mangels, vice president for finance and administration, said the University plans to raze the two structures to make way for future parking areas for Southeast. Mangels says the University plans to work cooperatively with both the City of Cape Girardeau and Old Town Cape to incorporate landscape features into the properties to make them aesthetically pleasing to the community while also meeting the future parking needs of Southeast.

University officials say additional parking is needed on the south end of the campus as it grows in that direction. The University is currently building a new residence hall at the corner of Broadway and Henderson, and the Wehking Alumni Center, the Student Recreation Center-South and the Southeast Innovation Center are recent additions to the stretch of Broadway between Houck Place and Pacific.

“The time was right, said Dave Howard, owner of the property. “The most important ingredient was we were able to find a place to relocate. We have a 12-year lease with a good location for us. The University met our needs, so it all worked out to everyone’s satisfaction.”