The Calgary Board of Education has sold the former education centre to an institutional investor in Western Canada for $36.5M.
The sale of the building, located at 515 MacLeod Trail S.E., was approved as part of the development plan for the modernization and addition to the historic Dr. Carl Safran Centre and construction of the new Education Centre at 1221 8 St. S.W.
The CBE completed the move into the new centre last year.
In a release, the CBE says that all stages of the sale process required by the Province of Alberta and the CBE Board of Trustees were followed.
“The sale of the old education centre is part of a long-term, integrated facilities strategy for the CBE,” said Naomi Johnson, chief superintendent of schools. “Finalization of this sale puts in place the last component of the complex and lengthy development of the new Education Centre.”
The proceeds of the sale will be placed in reserve and used to repay approximately $20M of interim financing for the Dr. Carl Safran Centre and the Connaught School.
We’ll have more details on the News at Noon.
