Aztec Shops has purchased El Conquistador, the private campusstudent housing complex, and is planning to donate it to theuniversity in 30 years.

Aztec Shops, the not-for-profit corporation that runs campus foodservices and the Bookstore, bought the building located at 5505Montezuma Road for about $21 million.

Aztec Shops CEO Jack Dement said they bought El Conq, built in1965, because it was for sale and they had the funds to do it. Thisis the third time Aztec Shops has had the opportunity to buy thecomplex. El Conq was originally on the market several years ago for$8 million but Aztec Shops chose to not buy the building then becausethe funds were not available.

Dement said El Conq will still be managed by College ParkCommunities, which has run the building for four years. Rent for ElConq runs about $6,000 to $7,000 per year depending on the meal planincluded.

He said the priority of Aztec Shops is to meet the standards setby the Americans with Disabilities Act. The ADA is a comprehensivecivil rights law for people with disabilities.

He said they plan to start construction and repairs when theSpring Semester ends, although he did not know what the repairs wouldinclude.

“It’s going to be a process,” Dement said. “It’s not going tohappen in one year.”

Some students who live in residence halls said they think it’s agood transition for El Conq.

“That’s good that they’re trying to fix it, and if it takesanother corporation to buy it out, then I’m all for it,” said TemploDel Sol resident and sophomore Andrea Rich.

Dement said Aztec Shops will pay for El Conq through tax exemptbonds on the building that will mature over 30 years. He said thebuilding currently generates enough funds to pay for the cost.

He said when the mortgage is paid at the end of 30 years, AztecShops will donate the 600-bed building to the university.

Dement said buying El Conq is a way for Aztec Shops to become abigger part of the university, to inspire a tighter-knit community.

The sale has been finalized on paper and at this point Aztec Shopsis evaluating what needs to be fixed, remodeled and changed.Construction may start as early as the day after the semester ends.

The last time any major renovations were done to El Conq was aboutfour years ago when the building was painted and recarpeted.

The university currently manages five residence halls and twoon-campus apartment facilities. The 6th hall, Cuicacalli, will becompleted in the fall.