The Philadelphia School District is close to selling some of its recently closed buildings. There are four buyers interested in the buildings, and the sale will make about $25 million for the district.
The district didn’t disclose the value of each individual building. A total of 20 offers were received for the schools. The bids were reviewed by an advisory committee made up of district and city officials, members of the Philadelphia Industrial Development Corp., and Philadelphia Redevelopment Authority representatives.
An empty school was also offered for expedited sale by the district. In 2012-2013, 21 schools were closed but were not for sale. The district has received “expressions of interest” for those, and negotiations are ongoing. Among that group of properties is the valuable William Penn High building on North Broad Street. If the SRC signs off on the four deals at its March 20 meeting as planned, the sales would gross about $35 million.
The district is counting on $61 million from building sales by the end of June. District spokesman Fernando Gallard said that the district “hoped to make up the $36 million in further property sales by June,” but he acknowledged that some schools may not be sold by then.”
“We are continuing to work on the mechanism that would provide the already promised funds to the district,” said Nutter spokesman Mark McDonald.
Scott Orens of Orens Bros. said, “We’re excited about the opportunity to develop the site. I think it’s fantastic, and I look forward to developing it to everyone’s satisfaction.”