During a recent government meeting, discussions centered on the future of the 450 North Washington property. Dr. Ellie Johnson, a potential buyer, presented findings from a six-month due diligence period. She revealed that the property requires approximately $4.2 million in upfront repairs before it could generate any return on investment. This significant cost has deterred other potential buyers as well.
Dr. Johnson emphasized the property's importance for revitalizing the Washington Heights area. She described it as a crucial link between ongoing developments at Dudley and Northwestern and the retail area near Bailey Park. The school district faces a minimum cost of $250,000 to demolish the building, with a potential resale value of only $100,000.
Dr. Johnson urged the committee to consider selling the property to her for a nominal amount. She argued that this would help remove financial burdens from the district's budget while ensuring local control over future developments that could benefit the community.
Following this discussion, the meeting moved on to other agenda items. The consent agenda, which included various reports and personnel changes, was approved without opposition. The meeting then transitioned to discussions regarding an athletic donation, led by Athletic Director Lauren Granger.