Developer Can Purchase Lakewood Education Buildings

LAKEWOOD, OH — The Liberty Development Company is now cleared to purchase the Lakewood City School District's properties at 1456 and 1470 Warren Road for $500,000. The Board of Education approved the purchase at its Feb. 5 meeting.

The company will also invest $8 million in renovations at the properties. The money would be placed into a capital improvement fund, the school district said.

"The proposed contract allows us to remain in downtown Lakewood in renovated office space without going to voters for funding," said Superintendent Jeff Patterson in a statement when the deal was first proposed in late January.

Patterson added that the Board's administrative operations would be cut drastically, going from 30,000 square feet to 10,000 square feet, with the goal of cutting operating costs.

The historical facade of the East Rockport Central School building, at 1456 Warren, will be preserved, according to the details of the contract. However, that property will be turned into a "modern office space" the district said. The board would need to leave that facility by June 2018. District employees could remain at the 1470 Warren building until August 2019.

When work is completed at 1456 Warren, the Board will have the option to lease that space for central office operations, the district said. The 1470 property will likely become a tax-paying space, but its unclear what exactly the facility will be used for.

The Board of Education originally included these requirements for the sale of the properties:

• Ensure the safety and security of Grant Elementary School
• Purchase price
• Guarantee occupancy for current Board offices for minimum 12-18 months
• Return of tax paying property to the tax duplicate

Photo from Rick Uldricks, Patch