The University of Iowa is planning to expand the UI Hospitals and Clinics surface parking lot to the east.

At the state Board of Regents meeting on Wednesday, the UI will request to purchase property at 9 Melrose Place in Iowa City for as high as $420,000.

Map by Jami Martin-Trainor/The Daily Iowan

The land is 6,420 square feet and contains a 1,152-square-foot three-bedroom residential rental unit. It is the last remaining privately-owned property on Melrose Place, according to a document in the regents’ agenda.

“The University owns the land on both sides of this property and across the street,” the document states. “The university acquired the surrounding parcels in 2011 and 2012, when it was planning the removal of Hospital Ramp Two, immediately north of the new children’s hospital, and the construction of the new children’s hospital tower.”

Besides the parking lot expansion, this purchase would also allow the UI to collaborate with the City of Iowa City to vacate the public street that serves the residential property on the land.

The UI has obtained two independent land value assessments, or appraisals, for the plot of land. The document states the two appraisals found the land to be valued at $420,000 and $390,000.

The university previously attempted to purchase 9 Melrose Place but was unsuccessful. The property owner has now contacted the UI about selling the land, the document states.

The document also states the UI has commissioned a Phase I Environmental Report of the property and will share those findings with the regents before officially closing the transaction. An environmental report is an assessment of a property that identifies any environmental conditions that could potentially impact a property’s value.

The request will go before the regents for approval at its meeting on Wednesday.