The SJUSD was facing a declining student population. Surplus schools and vacant land where problematic and equity needed to be harvested for core curriculum classes and teacher salaries. The District also had an aging and dysfunctional headquarters but there was no budget to replace this facility. Our team was selected by the Su-perintendent to identify the most valuable vacant school properties and propose to the Board a monetization scheme to supply funds to purchase a new headquarters and provide needed academic funding.
After performing valuations and affixing market values to each of the District’s sur-plus properties, three school properties in various locations were selected for sale as well as a large vacant lot in the Rose Gar-den section of San Jose. At the same time, existing potential headquarter buildings were identified within the city of San Jose for purchase to replace the aging current HQ. Offers for the vacant land were then solicited. The results of these offers with their plans for redevelopment then pro-gressed to public hearings where many special interest groups voiced extended opposition. After eighteen months of public review, the three properties were sold and in the case of the vacant Rose Garden land, 42 homes were built by a well-known developer. These funds were then used to purchase the current SJUSD headquarters off the Alameda in San Jose.
The District was able to leverage unused property to fund the purchase of it’s new headquarters building and at the same time fund several needed school pro-grams.
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