Saturday Properties Decides Not To Move Forward With Purchase of Central High School
DULUTH, Minn. – On Monday, Duluth Public Schools announced that the developer of the Central High School property off of Central Entrance had pulled out of the deal.
In a recent news release, the district said Saturday Properties, located out of St. Louis Park, notified district officials on Friday that it would no longer be moving forward with the deal.
The deal included plans for more than 400 units of townhomes and apartments overlooking downtown Duluth.
Saturday Properties purchased most of the 50 plus acres last summer.
“While we are disappointed by this news, we are completely confident that the property has a unique value for a future developer,” Superintendent John Magas said.
The district is still planning on moving forward with the demolition of the Central High School building this year, which will allow the property to become shovel-ready for future development.
“We are excited by the potential this property has to offer a developer as well as the economic benefit for the Duluth community,” said CFO Cathy Erickson.