Nathalie Weinstein//December 15, 2010//
Four developers next year will vie for the right to redevelop a historic Portland Public Schools building into housing.
After a plan to redevelop Washington High School into a community center for Portland Parks and Recreation failed to pencil out earlier this year, the school district in November issued a Request for Information from developers interested in reusing the structure, according to Kerry Hampton, property development manager for Portland Public Schools. Along with Art DeMuro of Venerable Development, who previously expressed interest in reusing the school, Beacon Development Group of Seattle, Wash., ConoverBond Development of Spokane, Wash., and Intrinsic Ventures of Menlo Park, Calif., have responded to the RFI.
Interviews with the potential developers will be conducted in January by a panel of PPS staff and financial consultants from ECONorthwest, who will decide who will enter into negotiations to purchase the building. A recent appraisal valued the 1922 structure at more than $2 million, Hampton said.
“We hope to find the best respondent and then go into negotiations to sell them the building,” Hampton said. “The outcome of that decision will have to be approved by our board.”
Washington High School is located in the Buckman neighborhood at Southeast Stark Street and 11th Avenue.