Property: 4500 Cabello St, Union City, CAThe New Haven Unified School District (the “District”) includes Union City and part of south Hayward, California. The District is comprised of six elementary schools, two middle schools, an adult school and one high school.
Unique Challenge
After closing the Cabello Student Support Center in 2007, the District was faced with the imperative of selling the Cabello Student Support Center to generate funds to help offset the District’s ongoing cash challenges caused by continuing state cuts to the education budget, and to assure that the contemplated use for the property was sensitive to surrounding neighborhood concerns.The District asked DCG to evaluate the benefits of selling their Cabello Student Support Center in 2012. As part of the process, DCG:
- Arranged meetings with the city and other stakeholders
- Assisted staff with Naylor Act negotiations
- Managed lot line adjustment between the City and District to assure that a buffer zone was created between the park and the subdivision boundary
- Managed a key property swap between the City and District
- Provided the Board critical updates and guidance
Solution Provided
After thorough analysis and a determination that the site would not be needed in the future, the 7-11 Committee voted unanimously to recommend to the Board that they sell the site for its “Highest and Best Use”. After receiving Board direction to sell the site, DCG acted as the District’s project manager for the entire state-mandated process for selling a surplus school site. From issuing a Request for Proposal for the site in 2013 to the close of escrow, DCG provided the expertise needed for the District to make informed decisions every step of the way. Benefitting from DCG’s expertise in marketing and negotiating the sale, the District had the luxury of choosing between eleven (11) offers for the site ranging from $9 million to over $14 million.The property ultimately sold for $14,275,000 and closed escrow in January 2015 to Pulte Homes who subsequently went on to build the Patina development. Funds from the sale will help bring the District towards fiscal sustainability and allow it to reinvest in its mission to develop and empower their students to be productive, responsible and successful member of the community.
