Pittsburgh district looks to sell 19 closed campuses

April 11, 2013
Officials want to see if any buyers are interested in the empty facilities.

The Pittsburgh district plans to put 19 closed school buildings on the market to see if any buyers want to acquire any of them. The Pittsburgh Post-Gazette says that Fourth River Development, hired as the real estate agent for the district, has recommended trying to sell 19 of 20 closed buildings. One building would be kept as a warehouse. No decisions have been made nor any formal offers received, but the district is looking for ways to save money. The 20 closed buildings combined have a debt of $9.15 million and an annual operating cost of $681,850. If a building is sold to a for-profit entity, the outstanding debt must be paid upon sale.

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