Project Information
Client
Ukiah Unified Elementary School
Location
Ukiah, CA
Project Size
13+ acres
Completion Date
2022
Project Notes
Terra Realty Advisors assisted in determining the highest and best use, as well as an overall strategy to repurpose two closed school sites. Redwood Valley Elementary School was a challenge, with aging buildings, and water and septic issues. TRA Completed all due diligence investigations on this 13+ acre site bordered by the Russian River, including resolving title issues, investigating proposed zoning changes, hazmat studies, and utility capacity. Through these efforts we were able to attract a local investor/developer who is working on a creative residential housing project using the existing school buildings to provide much-needed replacement housing for those destroyed in the recent fires impacting Mendocino County. Working closely with the Board of Trustees and staff, we negotiated an exchange agreement to “replace” this property with an income-generating asset, which was also being coordinated by TRA as the district’s representative
Highlights
- Conducted full due diligence for the 13+ acre Red Valley Elementary site, addressing title, zoning, hazmat, utilities, and infrastructure challenges
- Attracted a local developer for a creative residential housing project utilizing existing school buildings
- Negotiated property exchange to secure an income-generating asset for the district
- Serving as the district’s representative to coordinate the exchange process
