The long-awaited sale of School District 43 property at the north end of Parkland elementary school fields has finally concluded, with the district now about $2.4 million richer.
"This is good news all the way around," said board chair Judy Shirra, who acknowledged that the process to sell the surplus school land took a long time - more than two years - but was finally successful.
The sale was approved unanimously by the board Tuesday night.
An unnamed developer purchased the eight lots for $2.7 million. The sum was less than the estimated $3 million to $5 million that was originally projected, but was the best bid of 15 organizations that indicated their interest in the property and the three complete offers that were considered.
After closing costs, including consultant fees, engineering, environmental and legal fees, the district will net $2.46 million and the board was told the developer will be responsible for extending the alley behind the homes to connect with Poirier Street.
The process to sell the land was part of the district's Learning, Lands and Neighbourhood initiative to raise cash for capital projects. However, the funds are intended to supplement, not replace, provincial capital funding, according to an SD43 press release.
