The mayor has once again placed the old high school up for sale.
We wish him the best as the city benefits if the building is sold.
However in today’s real estate market, that enormous brick building built so long ago is more a white elephant than anything else.
Even if a developer were offered the building for free, it is likely there would be no takers because of what it would cost to rip it down and truck it away and then deal with city licensing departments to make something happen on the four acre footprint.
After all, what could this site be and make money?
That’s the rub.
The pricing for the structure and land isn’t so important as coming to terms with what exactly to replace it with and how to make its replacement profitable.
The site requires density in a development but requires as well an enormous amount of parking if, in fact, the site is developed to its fullest.
Now suppose someone came along and said they’d put 250 units on the property in a five-story building.
How could a major project go up in one of the most crowded areas of the city where traffic is often backed up on Broadway on both sides of the street throughout most of the day.
When the old high school closed, it had long outlived its use in that structure and on Broadway.
It had become a nuisance with all those kids and all that traffic five days a week.
So the questions about the old high school are abundant and the answers are few.
The building is worthless for all intents and purposes.
Even if someone paid $100,000 for it, what could they be expected to do with the property that could ultimately make money?
The answer to that question is this: In the present economic environment …nothing.
That is a sad fact of reality but that’s the way it is with this property.
The city will be lucky to sell it.