Board Votes to Sell Former Schenley High School Facility
PITTSBURGH, February 27, 2013 – At the recommendation of the Review Panel, which was established to assess the four bids received for the sale and reuse of the Schenley facility, the Board voted to award the bid to PMC/Schenley HSB Associates, L.P. Their bid of $5.2 million was the highest of the four bids. PMC presented its proposal for the development of approximately 175 market-rate, luxury apartments and amenities for the property at a community meeting held February 18.
The Review Panel recommendation was based on five criteria and other considerations, including: price, commitment to community and District, timeframe for development, limitation of risk, and the ability and capacity to complete proposed uses for the property.
The District recommended the closure of the high school in May 2008. Deteriorating conditions and the associated renovation costs were issues that would have needed to be addressed to create a safe environment for the school’s students and staff. In 2008 the District provided estimates to complete the major work at the school that ranged from $50 to $86.9 million.
On September 26, 2012, the Board authorized the issuance of a Request for Proposals by Fourth River Development for the purchase and redevelopment of the Schenley property. On January 18, four sealed bids were received for the purchase and redevelopment of the facility. All proposals were required to include a minimum acquisition price of at least $4 million net to the District.
On February 6, the Review Panel recommended to officials at the District to award the bid to PMC. On February 15, Superintendent Linda Lane provided two new estimates for renovating the former Schenley High School facility that ranged from $53 to $60 million. The estimates, sought at the request of the Board at its January 23 Legislative Meeting, confirmed that renovations to the facility would further complicate a difficult financial environment for the District.
Further history on the sale of the Schenley facility can be found on the District’s website. Please click the Surplus Properties button on the homepage and click Schenley High School in the left-hand menu.