Mr. Stephens' neighborhood: Re-envisioning 8 boarded-up Pontiac schools
Ottawa Towers co-owner paid $1.54 per square foot in $800,000 deal
Photo by CoStar Group Inc.Webster Elementary School at 640 W. Huron St. was among the eight former Pontiac School District buildings that changed ownership earlier this year.
I’ve been walking around my Pontiac neighborhood a lot the last few months, exploring East and West Huron Street between Telegraph Avenue and downtown. There's a lot of variety, from the stunning little enclaves of Indian Village and Seminole Hills, to the not-as-nice neighborhoods (like the one I live in) to the north and south.
Along that journey a couple streets west of my house is the boarded-up Webster Elementary School at 640 W. Huron St., which was part of a fire sale of eight formerPontiac School District buildings that changed ownership for just $800,000 earlier this year.
The buyer: Michael Stephens, facilities manager and co-owner of the 425,000-square-foot Ottawa Towers office complex at Woodward Avenue and Judson Street.
His dream, and the dream of others for that 57,500-square-foot school just a few blocks down from my house? A farmers' market with a community garden in the back.
For the seven other schools? It’s anyone’s guess, but Stephens said he’s talking with members of the neighborhoods surrounding the schools as well as developers to determine the best course of action.
Some possible components include residential space, a senior center, space for a nonprofit organization or organizations, or even a charter or skilled-trades school.
“We are not developers, we are investors,” said Stephens, who paid a paltry $1.54 per square foot for the eight buildings that total 520,700 square feet. “We are trying to match the best developer with the best intentions with the right project.
“I’m just trying to engage the community as well as make my money back.”
Stephens, who bought the two-building Ottawa Towers complex five years ago, said Wednesday that the deal to buy the buildings closed in late April.
There is no timeframe yet to repurpose the buildings.
But I hope when I’m walking Huron at some point in the near future, I can stop into the former Webster to buy some fresh asparagus or corn on the cob.
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