Board approves advertising Kingsbury Middle School property
December 19, 2017
The former Kingsbury Middle School property will be advertised for sale at $3.45 million, Douglas County School Board trustees decided on Monday.
The board previously asked Superintendent Teri White to get a new appraisal done. The appraiser, The Johnson Valuation Group, appraised the property at $3.15 million. Daniel A. Leck and Associates, did not reappraise the property and stuck with their original appraisal of $3.75 million. The $3.45 million is the midpoint of the two appraisals.
The Kingsbury Middle School property was put up for sale in January 2012 for $4 million. Lake Parkway LLC, a Glenbrook-based company made an offer on the property for $3.15 million, but the offer fell out of escrow in July, after the board approved several extensions.
Kingsbury Middle School was open from 1976 to 2008. It was built for $1.6 million to help with the then-burgeoning population at Lake Tahoe.
According to previous reporting by The Record-Courier, the school opened at peak enrollment time at the lake, but since then the Douglas student population at the lake has been dropping.
The school was put up for sale in 2012 for $4 million and it wasn't until Lake Parkway made an offer in 2015 that anyone had come forward.
Recommended Stories For You
On Monday, the board made one change to the proposal, asking that anyone putting a bid in for the property provide proof that they have the ability to fund the project within 30 days of placing their bid.
White said she hopes to have a buyer soon.