Detroit district looks to give up costly office space

April 18, 2007
District decides its leased offices are too expensive, but may be stuck paying the high rent.

About five years after Detroit Public Schools sold its headquarters and committed $57 million to buying and leasing offices in the city's New Center area, the cash-strapped district has decided it can't afford all the space. And now taxpayers could face a big hit as a result. The district is hoping to rent out some of the space, but the rent for much of the 70,000-plus square feet of space is on the high end of what the market will bear. Real estate experts say the school system will either have to eat a portion of the rent to sublease the space or pay $9 million over the next seven years for offices that it cannot afford.

Click here to read The Detroit Free Press article.

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