Kansas Avenue School is back on the market.
As you may recall, plans were for Frontier Development Group to convert the building into a housing development, similar to the Cottonwood Lofts in Chase County. The district approved selling the building to Frontier back in May of last year for $80,000 with $10,000 in earnest money, with the deal contingent on several factors, namely Frontier receiving financial assistance through a Kansas Housing Investor Tax Credit, Moderate Income Housing Funds and Reinvestment Housing Incentive District Status.
According to Frontier Managing Partner Tyler Holloman in an interview with KVOE News Friday afternoon, Frontier did apply for said programs but was unable to access one of those needed programs.
As a result, and to allow the district to move forward, Frontier canceled its contract with the district. USD 253 Community Relations Director Lyndel Landgren tells KVOE News the contract was cancelled “earlier this week” and “the property is back on the market.”
This is the second time the district has had a property sale fall through after a $200,000 bid from Simmons Pet Food to purchase the former Maynard Building, with plans to develop a round-the-clock daycare facility, was withdrawn. The Emporia Area Chamber of Commerce eventually purchased the building after several extensions of the closing date and now houses Little Lyons Childcare.
While the contract for Kansas Avenue has been canceled, Holloman tells KVOE News Frontier is still open to the possibility of revisiting the project in the future.
Frontier agreed to purchase the building for $80,000 with $10,000 in earnest money last May. According to Landgren, the funds were held through a title company and will be returned due to a contingency clause in the purchase agreement. Landgren also says the building’s sale has not been included in the ongoing cost containment conversations; however, should the building be sold in the near future, it could be included.
