Monday, July 21, 2008

Cypress Equities to "buy" Old Lynnwood High?

New Lynnwood High School rises
Construction on the $99.8 million project is about halfway done

LYNNWOOD (Unincorporated Snohomish County) -- Bulldozers hum. Construction workers ready steel framing. A school emerges.

Midway through construction on the new Lynnwood High School, the project is on schedule and on budget, said project manager Debra Born.

The foundation is nearly complete and much of the frame of the $99.8 million school is up. Lights surround the baseball field and the football field is ready for turf. Portions of the roof and concrete brick siding are up, and electricians are in the process of wiring the building. Plumbing is also in the works.

"It's exciting," Born said, looking over drawings of different parts of the new school. "There's a lot of ingredients to this project that make it quite rich and stimulating."

Construction began in June 2007, and the school is scheduled to open to students in September 2009. Furniture and classroom setup is slated to begin next June.

The school, east of I-5 near Mill Creek, will replace the existing Lynnwood High School, which is adjacent to Alderwood mall. A Texas-based development firm, Cypress Equities, plans to purchase the old high school and use the land to house retail space, multifamily residential units and a hotel.

Cypress plans to take control of the land in July 2009, according to Marla Miller, an assistant superintendent with the Edmonds School District. A few months prior to the sale, an appraisal of the site will be done to help determine the purchase price, she said.

Read the rest of this article by clicking here.

By Kaitlin Manry
Herald Writer


Anonymous said...

Wow. This is not what they told us before.

Also, an appraisal now would guarantee the lowest possible value.

Anonymous said...

No. No. No. I read the article in the Herald this morning and then called the school district to ask when the "lease" plan turned to a "purchase" plan. The gal at community relations said the Herald will be printing a retraction because the property is definitely being "leased" and not "bought".

Anonymous said...

Hey, on the home page of the Edmonds School Distrct there's a "clarification" of this story. They've probably been receiving lots of phone calls about the lease/sale.

Anonymous said...

Maybe the district can hire their own appraisers, appraise it at $2.6 million over Cypress's appraiser, and Cypress will pay it!

What happened to the 99 year lease Marla advertised? said...

Call Marla and ask what portion of the site will be sold.

While it may be true that the entire site will not be sold, I suspect the Herald is only partly mistaken. Call, ask and then let the rest of us know.

Cypress Equities expressed interest in buying up to a third of the site and we all know how the District loves to sweeten deals for everybody else.

Anonymous said...

Which third will they buy? I bet its the part high on the hill that doesn't have any ground water infiltration. The rest will lay dormant like the old ESC property.

Anonymous said...

Its just a slip of the tongue. We all know that so vevy well Ms Miller & Mr Nick the quick.
These people need a lesson plan on doing something right, not just lining their pockets.

Anonymous said...

where are the leaders?

Anonymous said...

If the property is needed for educational purposes at a later date, RCWs allow it to be repossessed with 90 days notice.

Is this true?

Anonymous said...

I am sure that Cypress is planning to own LHS. Cypress plans will outweigh District plans. Survival of the fittest means Cypress wins. Survival of the fattest would yield a different result.

Anonymous said...

Well, I see that someone has taken it upon themselves to post in my name ... Mike Ross. I'm here to tell you all that when I post it'll be with an easy way to be sure that it is me. And I may not be so nice to the District since they were not so nice to me, the only person to be laid off in the last years budget cuts. Now ask how much surplus has been sold to the public since I left, or books donated to groups who sent them on to Africa? Not much I'll wager.

Anonymous said...

"Text Books for Africa" sounds just like the "Dental Equipment for Africa" program at Old Woodway Elementary. "Friends" of the District "donated" their techno-rubbish and the tax payers had to pay to have it responsibly recycled.

And then, when these "Friends" left the door open, kids got in and set the place on fire. It was a "Welcome to our District" party for Mr. Suspenders.

Anonymous said...

Mike Ross was the only one to get laid off No! your freind Chuck Penney got laid off too.
I think there's an email saying something about this kinda thing.
Mike hows the new job? bet you can't do nothing all day like you did here at the district.

Anonymous said...

mike ross the hardest worker in the district.
come on down to earth man.

Anonymous said...

Let's try to resist the urge to be anonymously nasty. Insults are not productive.