The Columbus Redevelopment Authority is working with Farmer Commercial Properties, a Starkville-based realty firm, to sell the Lee Middle School property on Military Road.
CRA is asking $1.79 million for the property, according to Scott Farmer, who said his company recently began working with CRA to market the property to buyers.
Columbus Municipal School District owns the Lee Middle School property, and CRA purchased a $1 option on July 20, 2016, to market its sale for a year. That option can be extended through July 20, 2018, for another $1.
CMSD Board of Trustees President Jason Spears said the school board is happy with the arrangement between CRA and Farmer.
“As far as trying to use all efforts possible to highlight the property and get people interested and really broadcast its availability, I think it’s a good thing when it comes to the visibility of the project and what might be there to lure investors to the property,” he said.
The roughly 15-acre tract is being pushed as “prime retail development property” because of its central location accessing Highway 82, Bluecutt Road and 18th Avenue North in a high-density commercial and residential area.
So far, there are no suitors vying to purchase the property, both Farmer and CRA President John Acker said.
Lee Middle School closed its doors in 2011 after the students moved to Columbus Middle School and CMSD has been trying to sell the property since.
Acker told The Dispatch CRA plans to go ahead and extend the option if the property does not sell before July 20.
Commercial property
Since the school closed its doors, CMSD has turned down two churches interested in purchasing the property. Acker previously told The Dispatch it is much better for the district and city to recruit private developers who will turn the former school campus into tax-generating property rather than sell to churches, which don’t pay property taxes in Mississippi.
The buildings on the property have asbestos, which can be expensive for developers to remove. Acker previously told The Dispatch he couldn’t estimate how much cleanup of the site would cost because it would depend on a developer’s specific project plans.
CRA is a five-member board formed by the Columbus City Council to improve property values in the city. The city has appropriated $50,000 per year to the board in each of the last three fiscal years.
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