Buyers Found For Four Mothballed Philadelphia School Properties
By Mike DeNardo
PHILADELPHIA (CBS) -- The School District of Philadelphia has found potential buyers for several of its shuttered buildings, including University City High School.
The district has named buyers for four of its properties, including Drexel University for University City High.
The district says it will gross $35 million and net $25 million from the sales.
The deal amounts to $14 million less the city will have to come up with to cover its $50-million pledge that allowed schools to open on time this year (see related story).
"I've said all along that this was one of the things that the majority of people thought was the right thing to do," said City Council president Darrell Clarke today, "and I wish we could have moved on this a lot sooner (so) we would have been where we needed to be as it relates to reaching that deficit level."
In addition to University City High, Drexel is also purchasing the former Charles Drew Elementary School and the Walnut Center, all at 36th and Filbert Streets in Powelton Village.
Mastery Charter Schools is purchasing the former Anna Shaw Middle School, in Southwest Philadelphia.
Orens Brothers Real Estate Inc. is buying the former Alexander Wilson Elementary School, also in Southwest Philadelphia.
And Maritime Academy Charter School is purchasiing the Stephen Douglas High School, in Port Richmond.
The School Reform Commission is scheduled to vote on the sales March 20th.
