The Flint Board of Education is preparing to sell the DeWaters Arts Center and the Dort Music Center and other facilities it owns to the Flint Cultural Center Corp. Total transaction price--about $5. The DeWaters and Dort centers, Whiting Auditorium, Bower Theater and the Longway Planetarium will each be sold for $1 per building. The Flint Public Library would be sold to the Flint District Library Board for $1.
The school district owns the buildings, but expenses and management for all the facilities except the library are handled by the Cultural Center Corp., said school officials. Library expenses are handled by its board.
Officials of the Flint Institute of Arts recently presented the school board a plan to make $19 million in improvements to the DeWaters center, 1120 E. Kearsley St. The board unanimously approved the plans, which will be done over two phases.
The first phase, costing $12.3 million, will start in January or February and take 12 to 18 months.
The school board last month approved $8.2 million in work at the Dort center, which will include renovating the existing 40,000-sf facility and adding 26,000 sf of classroom space that can accommodate 1,000 more students.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
