The new owner of the Princess Royal Elementary School building has no current plans to evict tenants.
The Nanaimo school district board approved sale of the Irwin Street school to Tardon Developments Inc. for $900,000 at a meeting last week. The school was closed in 2004 and current tenants include the Vancouver Island Health Authority and Jolly Giant Childcare.
While Tardon Developments could not be reached for comment, Lorne Gait, the realtor representing the company, said Tardon supports the community-minded efforts of the childcare centre and the health authority.
“If the tenants eventually leave, not that that’s in the plan today, but if they eventually leave, all future plans will involve supporting children and families in the community. So it’s not going to be torn down to put a big development up,” said Gait. He wouldn’t elaborate on specifics, pointing to the fact tenancy was in place.
Phil Turin, school district secretary-treasurer, said the school was identified as a property for sale in the board’s asset management plan. The $900,000 would go into the school board’s local capital fund to be used for future construction of school facilities.
“Right now, [the money] is not earmarked for anything,” said Turn. “I will be providing a recommendation to the board and that will happen when we deliver the financials.”
The appraised value of the property was $985,000 and Turin said the district was pleased with the sale.