Zoned single family residential, it is the school district's former Northend Annex, which sits on 3.23 acres at the intersection of Roosevelt Way, Meridian Avenue and 137th Street. The property will hold between 28 and 34 home sites, according to the city. The minimum bid for the is $2.4 million.
"Custom homebuilders love blank in-city canvasses," said Jim Norman of Sage Real Estate Strategies, advisors to the District on disposition of surplus schools. "We expect the same high level of interest that there was for the Briarcliff and Maple Leaf elementary school sites sold last year."
Beginning today (Friday, Jan. 30), detailed information about the property will be available on the District's web site at www.seattleschools.org. A bidders' conference is scheduled at the site on Feb. 18, at 1:00 p.m. Deadline for offer submission is 2:00 p.m., March 4, 2004. All offers must be proposed on the District's Standard Form of Submittal, which is available from Christine Payne, Seattle Public Schools Contracting Services, (206) 252-0571.
Thus far, the District has generated nearly $30 million in revenue from the five properties, averaging 10 qualified bidders per site. Deputy General Counsel Ron English tells GlobeSt.com the other five properties have either been sold or are under contract to be sold.
The first property that was sold, the school district's former logistics center located on Fourth Avenue South, was sold in late 2002 to Costco, which has one of its stores on an adjacent parcel and wanted to land in order to build a larger store.
Under contract to be sold to a Spokane firm are the District's the District former administration and information services office buildings on Queen Anne Hill, which total approximately 150,000 sf. The sale price is a little more than $7 million, says English, and the sale is scheduled to close in March. The buyer wants to convert the buildings for use as a retirement facility and medical center.
The former Maple Leaf school site at 100th and 32nd in Northeast Seattle was sold to Steve Williams Custom Homes for $2.8 million. Briarcliff, the coveted six-acre school site on Magnolia Bluff, was sold to Lexington Fine Homes of Bellevue for around $7 million.
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