Ledyard, Conn., Development Panel Hires Real Estate Firm to Market Old School
Jul. 16--LEDYARD, Conn.--A New London commercial real estate firm will lead the search to find a new tenant or owner for the former Gales Ferry School.
The Economic Development Commission chose Jim White and Susan Howard of US Properties Inc., of 3 Shaw's Cove, to market the elementary school. The school, which occupies a 5.2-acre parcel, has been vacant since August, when a new school opened a short distance away on Route 12.
White said Monday that his firm has worked in commercial real estate for the past 10 years, and has handled property management and brokerage since the early 1970s. He declined to discuss US Properties' plan to promote interest in the parcel, but said Ledyard officials found their marketing proposal suitable.
"We have a couple of specific people that we will be marketing to right away," he said. ... "Sometimes it can go very quickly, sometimes it takes longer."
The firm should begin work within the week, said White, once town officials have signed the listing agreement. At its meeting Thursday, the commission authorized the mayor to enter into a contract with the firm.
Robert Van Geons, the town's economic development director, said the property has the potential to be the cornerstone of future development in Gales Ferry Village.
"While this property is key to the town's future economic development, we are committed to trying to get the best possible project for the community and existing residents," he said. "The difficult task will be balancing the town's need for nonresidential growth, while protecting the quality of life our citizens currently enjoy."
Howard described the former school as "a nice site" because of the other commercial businesses in the immediate area. Gales Ferry Village has several small independent stores, a restaurant and large chain store, a gym, bank and other shops.
Town officials have wanted to promote pedestrian traffic in the area while discouraging residential developments. The school, at 7 Hurlbutt Road, is in the heart of the village and located in the Gales Ferry Design District, where zoning regulations allow commercial, office, institutional and limited residential uses.
The 22,109-square-foot building has 15 full classrooms, three smaller classes and offices, and one multipurpose room. Its appraised value is $851,100.
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The Economic Development Commission chose Jim White and Susan Howard of US Properties Inc., of 3 Shaw's Cove, to market the elementary school. The school, which occupies a 5.2-acre parcel, has been vacant since August, when a new school opened a short distance away on Route 12.
White said Monday that his firm has worked in commercial real estate for the past 10 years, and has handled property management and brokerage since the early 1970s. He declined to discuss US Properties' plan to promote interest in the parcel, but said Ledyard officials found their marketing proposal suitable.
"We have a couple of specific people that we will be marketing to right away," he said. ... "Sometimes it can go very quickly, sometimes it takes longer."
The firm should begin work within the week, said White, once town officials have signed the listing agreement. At its meeting Thursday, the commission authorized the mayor to enter into a contract with the firm.
Robert Van Geons, the town's economic development director, said the property has the potential to be the cornerstone of future development in Gales Ferry Village.
"While this property is key to the town's future economic development, we are committed to trying to get the best possible project for the community and existing residents," he said. "The difficult task will be balancing the town's need for nonresidential growth, while protecting the quality of life our citizens currently enjoy."
Howard described the former school as "a nice site" because of the other commercial businesses in the immediate area. Gales Ferry Village has several small independent stores, a restaurant and large chain store, a gym, bank and other shops.
Town officials have wanted to promote pedestrian traffic in the area while discouraging residential developments. The school, at 7 Hurlbutt Road, is in the heart of the village and located in the Gales Ferry Design District, where zoning regulations allow commercial, office, institutional and limited residential uses.
The 22,109-square-foot building has 15 full classrooms, three smaller classes and offices, and one multipurpose room. Its appraised value is $851,100.
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posted by Robert Van Geons at Tuesday, July 16, 2002
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