11/21/2017 - County sells former Blacksburg High School property
On Tuesday, November 21, 2017, HS Development, L.L.C., purchased the former Blacksburg High School from Montgomery County.
"I am glad we have completed the sale of the old Blacksburg High School property," said Christopher Tuck, Chair of the Montgomery County Board of Supervisors.
"Now we will be able to reinvest the three $1 million payments for this property into worthwhile Montgomery County Public School capital projects, such as the Christiansburg High School, positively impacting both our students and our community," said Tuck.
Since Montgomery County began marketing the property for sale in late 2016, the following has transpired:
- On January 5, 2017, HS Development, L.L.C., submitted an offer to purchase the old Blacksburg High School site for $2.175 million;
- On March 3, 2017, the Board of Supervisors submitted a counter offer to HS Development, L.L.C., which included several stipulations and an as is sales price of $3,000,000;
- On March 7, 2017, HS Development, L.L.C., accepted the terms of the Board’s counter offer and provided a $25,000 non-refundable deposit to the County;
- On March 13, 2017, a public hearing was held;
- On April 24, 2017, an amended sales agreement was signed by HS Development, L.L.C., and Montgomery County;
- On September 25, 2017, The Montgomery County Board of Supervisors approved an amendment to the Agreement to Purchase the old Blacksburg High School site and the Sale of Property between Montgomery County and HS Development, L.L.C.;
- On September 26, 2017, HS Development, L.L.C., advised Montgomery County that they intend to proceed to closing as outlined in the Sales Agreement with the County; and
- On November 21, 2017, HS Development, L.L.C., officially purchased the property from Montgomery County, paying $1,000,000 at closing. An additional $1,000,000 is due in April 2019, and the final payment of $1,000,000 is due in April 2020.
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