By Charles Lefebvre

SD76 finds potential buyer for Riverside School

Feb 6, 2018 | 3:33 PM

MEDICINE HAT, AB — Eight months after it closed as a school, SD76 says they have found a potential buyer for Riverside School.

The school board says it has accepted a conditional bid from Covenant Care, a sister organization of Covenant Health. to purchase the school, which is still subject to several conditions before the sale closes.

If the deal is approved, Covenant would turn the building into affordable independent living arrangements for seniors, according to Mark Davidson, SD76 superintendent.

“The board is pleased that an offer was made that meets their desire to have resources returned to the system, and feel the potential purchaser is well-positioned to make good use of the property,” he said on Tuesday.

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Details about the tender, including the cost of the bid and conditions, remain confidential until the sale closes.

Truman Severson, president of Covenant Care and Covenant Living, said over the phone on Tuesday they were hoping the conditions would be met by the end of February.

Severson says the organization believeS the Riverside location is suited for a senior living facility.

“We were happy to see a great piece of property become available, kind of in the core of the city where seniors generally like to live,” he said. “If we’re fortunate to get the deal completed, then we’ll start to put our minds to what’s the greatest need and greatest opportunity in the community.

Riverside School, built in 1916, was closed by SD76 last June. The decision was made in 2015 due to the cost of modernizing the school and a decline in population in the Riverside neighbourhood. The building was briefly used by the Medicine Hat Police Service for training purposes, but has mostly sat vacant.

Davidson said the board received proposals from four bidders when they put it up for tender last winter.

He adds the money from the potential sale of the school would help the division, noting it would be placed in capital reserves by the board.

“Generally, they use revenues from sales such as that to support them in capital projects in the future,” he said. “So, modernizations of existing buildings to keep up with infrastructure projects within buildings, or to add revenue to the building of new schools or a complete rebuild, like Medicine Hat High School.”

Any sale of a school in Alberta needs final approval from Education Minister David Eggen. There is no timeline on when the decision could be made.