CSD Purchases .7 Acre Property Adjacent to College Heights
Decatur Metro | November 23, 2015 | 9:53 am
I admit that I was pretty busy last week, but I’m still not sure how I missed this. (Decaturish apparently wrote about it on Thursday.)
From Superintendent Dude’s Facebook page…
The Board met this morning to purchase the property at 927 South McDonough Street. This property is immediately adjacent to the College Heights Early Childhood Learning Center and will add an additional 0.7 +/- acres to the College Heights property. The Board had to act quickly on this purchase due to timeline requirements of the sellers. The purchase price for the property is $525,000.
Currently, there are no specific plans for the use of the property. The Board and I will continue to evaluate the growth and construction needs of the system to determine the best use of the expanded property.
Hmm…how can CSD best use .7 acres?
They’re surely banking it with the expectation that College Heights will likely need to expand at some point in the future.
Well yeah, but that’s not all that interesting a development. What about a vertical 4/5 academy or a trailer village location?? 🙂
Five story learning cottages made out of shipping containers it is!
That’s also a “treescraper”!
So, $74,475,000 of the bond money left!
Shrewd negotiators at CSD got it $10k below listing price.
Actually, that land is way more valuable to CSD than to any prospective home buyer or builder. I have no idea if the list price is realistic, but assuming it approximates market value, CSD got a good deal. The seller could have very well demanded another $100k knowing CSD’s current situation and troubles acquiring suitable land.
1/3 acre lots in the College Heights area have been selling to builders for between $300-$350K lately so a 0.7 acre lot for $525K seems to be a decent deal. I agree with DawgFan that the seller probably could have played hard ball here. Seems pretty probably they will need the space for something in the not too distant future so I like the decision to buy the property when they had the opportunity.
The Decaturish article mentioned that CSD was represented by a real estate agent, so it’s possible the seller did not know who they were negotiating with.
Um, my clients don’t need to see the property, they trust me. They don’t need to see the kitchen or anything… 🙂
Actually, the house looks cute and the bathrooms and kitchen look to be in excellent shape. Will CSD rent it out? It’s a shame to waste a cute house when reasonably priced space is tight in Decatur. Maybe folks displaced by DHA renovations? Syrian refugee family?