Longview ISD Puts Up More Land, Buildings for Sale
Posted/updated on: January 3, 2012 at 12:47 pm
LONGVIEW — Anyone looking to buy the former Longview High School and T.G. Field Auditorium at its $1.2 million appraised market value? According to KETK and the Longview News-Journal, Longview ISD is asking for about a 500% markup. The school district has placed several former school buildings up for sale, including T.G. Field and the old high school site near downtown. The district is seeking a $5 million minimum bid on the auditorium and former high school buildings, according to its notice of sale. The three tracts of land are collectively valued at $1.29 million by the Gregg County Appraisal District. The district also is asking for a minimum $75,000 bid on each of two tracts of land at the old Forest Park Middle School building and a minimum $30,000 bid on the former Valley View Elementary School property.
“Appraised value and market value are based on a set of third party theories, and market prices rarely match those appraisals,” district spokesman Adam Holland said. “Downtown is not what it was 25 years ago, when businesses were tripping over each other on their way to Loop 281. Before we set our price, we considered the recent improvements to downtown streets, the plan for a regional transportation hub and the eclectic variety of businesses that have relocated to and expanded in the area.”
The district is accepting sealed, written bids until 2:00pm on February 14 at the Education Service Center on Young Street. According to the Gregg County Appraisal District, the land and building of T.G. Field Auditorium carries a market value of $378,200. The 2.0455 acres of land are valued at $178,200, and the building is valued at $200,000. The old Longview High School land and building have a market value of $732,350. The 3.5788 acres of land are valued at $311,780, and the building is valued at $420,570, according to the appraisal district. Another tract of 0.3843 acres of land with a building is valued at $183,480 ($33,480 for the land and $150,000 for the building).
