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and Portland developer Art DeMuro have reached a tentative agreement for the sale of long-vacant Washington High School in inner-Southeast Portland.

If the school board were to agree at its next meeting, on April 23, to sell the historic building to for $2 million, DeMuro, the company’s president, would move ahead with plans to convert the high school into multifamily housing.

DeMuro and people who live near the school building are generally thrilled that it may finally be reused. But the latest agreement comes after several failed redevelopment attempts, tempering the excitement until the deal becomes final.

鈥淚t’s been a long process, but I understand that the school district has had more urgent issues to deal with,鈥� DeMuro said. 鈥淎s a citizen and as a PPS parent, I accept that. As a developer, I’ve been antsy. But I know my place in the queue.鈥�

DeMuro became interested in the property in 2008 as the building, constructed in 1924, revealed increasing deterioration. At that time, however, he wasn’t looking to purchase the property; he described those early investigations as the work of a 鈥渃oncerned preservationist.鈥�

But Venerable Properties eventually began working on a plan to create market-rate housing on the four-story building’s upper floors and a community center on the ground floor. That deal fell through when Portland Parks and Recreation announced in 2010 that it would not pursue a bond measure, which would have been a primary source of funding for the project.

Prior to the collapse of that deal, proposed a housing plan for Washington High, but was unable to make the project pencil out.

PPS interviewed four developers in January 2011, and decided to begin negotiations with Venerable Properties the next month.

鈥淲e are very excited to bring that building back to life; it’s time to get some people in there,鈥� said Susan Lindsay, president of the . 鈥淏ut first things first 鈥� we’re looking to the (school board) to approve this sale. They’re very much in need of cash and facing the possibility of closing more schools and cutting teachers, so I think it’s an excellent time to move forward now.鈥�

After shuttering Washington High in 1981, PPS used it for administrative purposes until about a decade ago. The property at Southeast Stark Street and 11th聽Avenue has since received little attention except from skateboarders, dog walkers and the , which has used the space for temporary art installations.

鈥淭he neighborhood is really excited that something is going to finally happen with the building after 30 years,鈥� said Tim Askin, a Buckman resident and a consultant to the .

The association has worked for years to nominate a portion of the neighborhood for listing on the National Register of Historic Places. Such a listing would help DeMuro secure tax credits for redevelopment, but he will nevertheless pursue an individual listing for Washington High School in order to protect against potential demolition, as well as access special assessments and historic tax credits tied to the designation.

鈥淥n this project, we need every financial incentive we can get to make it feasible,鈥� DeMuro said.

He has neither started work on any architectural plans nor pinned down details for the housing.

鈥淓verything has been in the freezer,鈥� he said. 鈥淲e’ve limited the investment of time until we’re under contract; once that is approved, I’ll get to work on it.鈥�

Just to get the building up and running, the project team must address decades of deferred maintenance, complete overdue seismic upgrades and adhere to historic guidelines. Then the team will need to decide how to transform the building 鈥� which is laid out with classrooms around a large, central auditorium 鈥� into attractive living spaces.

But the community members who have been most involved in past plans for the building are confident that now is the right time and that Venerable Properties is the right developer to take on the challenge.

Lindsay, who led the Washington High Community Center advisory committee through the last redevelopment attempt, hopes that DeMuro’s personal commitment to the project will help overcome the biggest challenges.

鈥淚t’s going to take a lot of passion to bring Washington High back online,鈥� she said. 鈥�(DeMuro) has the most experience and the heart needed to understand and to get passionate about this project. It’s going to be a big job, but I have faith that he’s got what it takes.鈥�