Emerson School Purchase Moves Forward
Mystic Valley Regional Charter School offers services and cash totaling $1.6 million for the property.
The purchase of Emerson School by the Mystic Valley Regional Charter School took another step forward Tuesday night, when the city's public property committee approved moving forward with the deal.
The purchase agreement will be drafted by the city solicitor and awaits approval by the full council next Tuesday.
The $1.3 million dollar acquisition will allow the school to hold high school classes for a growing student population, a letter of interest read.
As the school would not be required to pay taxes on the property, the proposal included a number of other offers from the school, including upkeep of the nearby World War II memorial, some use availability for city events and a monthly gallery night featuring local artists.
The offer also includes $10,000 a year for ten years to the ward council fund for ward improvements and use. The schoool said they would drop the tax abatement on their Eastern Ave. property, at a cost of about $100,000.
In total, the additional offers were estimated to cost just under $300,000.
Another proposal, submitted by Boston-based Pizzuti Developments, would've purchased the property for $800,000 and converted the site into condos.
What do you think of the proposed purchase of Emerson School?
Pat
3:15 pm on Wednesday, November 14, 2012
All these properties being bought by the Charter School brings in zero tax dollars for Malden. How much money per year is lost in tax revunue from all the property the MVRCS owns?
Tony H.
3:41 pm on Wednesday, November 14, 2012
A good amount, but would you prefer the Emerson building is split into residential units or converted into an industrial building? The City already has 2 large apartment complexes approved for the Square, so I think we're set for population growth and new property taxes. And I don't think industrial use would help the neighborhood. *Elite* educational facilities like Mystic Valley improve neighborhoods, increase property values, and fit perfectly into sites like this. I approve.
Pat W
5:20 pm on Wednesday, November 14, 2012
nothing is better than educating our children, grow up people, we need schools to
move forward with our wish for a city with promise.
Frank Ryan
11:18 am on Friday, November 16, 2012
Increased property values are a myth. Propert around other such facilities change like all other property. You don't see anyone rushing to live near a chareter school. The fact is, a condo/apt. develpment would bring in very much needed revenue, but you have to remeber we're talking about the well connected Mystic Valley Regional Charter School that's nothing more than a profit making business which is spending a lot on real estate as the tax dollars vanish. Don't forget that World War II Memorial will be well taken care of and they'll spend 10K for 10 years to keep the ward looking spiffy. I can't wait to see what the $100,000 gets and who gets it. How much is the Belmont School property bringing in for the city?
Tony H.
11:34 am on Friday, November 16, 2012
Yes, actually, strong schools increase demand for proximate properties and housing prices rise as a result. Multiple studies have proven this. Here's one of them I found to be a good read.
"All three sources of variation-- differences in housing prices along school boundaries, changes in school assignments and changes in peers-- suggest that schools have an impact on housing values."
http://www.econ.yale.edu/seminars/labor/lap04/staiger-040506.pdf
allamericancity1967
3:29 pm on Wednesday, November 14, 2012
Gee, that Mr Kinnon is sure a swell guy to give the City all that, at a bargain price of 1.3 mil. Has the property been evaluated as to it's worth? and if so what is it?
Chris Caesar
3:38 pm on Wednesday, November 14, 2012
Good question. I believe it was appraised in the $1.5 million range. Don't quote me on that, though.
Mike G.
3:29 pm on Wednesday, November 14, 2012
Ooooh this drama is going to be tasty.
david mokal
7:56 pm on Wednesday, November 14, 2012
Haaaaaaaaaaaaa ! Here we Go Again
Scott Saia
3:55 pm on Wednesday, November 14, 2012
Its a positive use of the space. I'm more concerned with future development options for other dormant facilities. The old Rudermans building for one. Tax revenue can be supplimented or gained through economic growth as well. We have quite an abundance of empty retail space in the city. More residential units will increase the expanding traffic issues in the city. Traffic concerns will become the city's next headache. We already have many intersections that back up freezing traffic at certain times of the day due to the overabundance of traffic lights in certain areas.
Michael Victor
4:01 pm on Wednesday, November 14, 2012
Hope they do what they did at the Old Immaculate. That building looks great. As for Taxes there were not taxes being paid on Immaculate and not on Emerson so what was lost. How much taxes was the 800,000 bid for condos going to pay per year? Condo's don't pay much in taxes but if it was 20,000 per year it would take forever to make up the difference between there bid and the condo developer. Great for the neighborhood. No worries about condo's and excessive noise and dead in the Summers. A little traffic twice a day on week days very low impact.
Mike G.
4:15 pm on Wednesday, November 14, 2012
I do have to respectfully disagree about the "low impact" on traffic. But, there are far worse things that could be done with the property... like, a nail salon, or a pizza place, or a nail + pizza place.
David Marsters
9:00 am on Thursday, November 15, 2012
I have a better idea, make it into law offices. We need more.
Mitt
4:14 pm on Wednesday, November 14, 2012
Good place for City Hall.... Enough with creepy kinnon and his waste of non taxed land....There are plenty of schools in malden, you want better schools send your kid somewhere else.
Erik Royds
4:20 pm on Wednesday, November 14, 2012
Tell DiPetrios, Big A and the 2 convenience stores that they can have 10 condos built on their block that will generate almost nothing in small business revenue or tell them they can have an additional 200+ students that can leave campus for lunch 5 days a week. Will the city take this tax revenue from condos (or worse yet transient apartments) and help save small businesses? Go down to Highland Ave. at lunch time and count the students spending money. They are easy to spot, they are wearing school uniforms.
AnnieOMalden
4:53 pm on Wednesday, November 14, 2012
Erik: Most of those students don't frequent those places due to the short time the kids have for lunch. My own kids would go out for the fresh air as there wasn't enough space for them to sit at a lunch table and eat the lunch I sent to school with them. I don't think it is necessarily a bad idea the school takes over the Emerson school yet I am more concerned with the chair of the charter school being the chair of the Building Property committee. Oh, I know...he won't vote on this but don't kid yourself, this is way too cozy a deal for him to be involved in. Those students also won't be around during the summer to frequent any of those places so your argument is somewhat weak.
Erik Royds
5:42 pm on Wednesday, November 14, 2012
Annie, spoke to two current, two former, and one future Charter High School student s before I posted. They spend (or will spend) money before, during and after school on Highland Ave. They also eat out there in the summer because they know the shops. Could care less about the politics of the thing. If your issue is people who are wired in making good deals for themselves, good luck. That's been going on since we lived in caves. This article looked like it was about best use of building space in the city. That is what I have commented upon.
marcella royds
6:05 pm on Wednesday, November 14, 2012
AnnieOMalden, there are many student residents who frequent those establishments during lunch, after a sporting event, during the summer, and when they come home from college. People do not have to like Mystic Valley but the school is here to stay. The Malden Hospital would have been ideal but it didn't work out. Neil Kinnon does not wield all the power, others vote as well.
M
10:47 am on Thursday, November 15, 2012
My 2 MV students go out to eat on Highland Ave several times per week. They've found favorites that we even go to get on the weekends. I think the best use of the Emerson is the Charter School.
Michael Victor
5:16 pm on Wednesday, November 14, 2012
I'll tell you what I really like what they have done down on Eastern Ave. too You think the homeowners in that neighborhood are happy. Its going to push their property values up particularly having such a good school next to it.
Greg
5:16 pm on Wednesday, November 14, 2012
Seeing as the Mayor is hell bent on a new City Hall. Whats the problem with renovating this building that we already own?
Gene Pinkham
5:25 pm on Wednesday, November 14, 2012
The neighborhood is overwhelmingly in favor of the Charter School. The teacher parking will be off street. There were 20 on staff when it was the Emerson. They parked on the street and no one really noticed. And it's not on DiPietro's or the Big A's block. It's on mine. What happens to the stone? It belongs to the Italian American Citizens Club of Ward 2.
Erik Royds
5:48 pm on Wednesday, November 14, 2012
Gene, I know it's the next block over. Those young whipersnappers walk places. Is the stone you speak of the WWII memorial? It said in the article "the proposal included a number of other offers from the school, including upkeep of the nearby World War II memorial."
allamericancity1967
6:35 pm on Wednesday, November 14, 2012
It remaining a school is a good fit, as it was for the last hundred or so years. When they rebuilt the wooden one I believe there was some sort of requirement that it remain a school for so many years, at least that's the story I remember. What I really want to know, and the rest of you taxpayers should want too, is what was the building and land appraised at? Who did the appraisal? Taxpayer money is paying for the building....so Chris , can you find this info out?
Chris Caesar
12:48 am on Thursday, November 15, 2012
I believe it was appraised for $1.5 million.
david mokal
7:59 pm on Wednesday, November 14, 2012
Put in a Gambling Casino. Everett is with a proposal allready to go. No more than 3 miles from there by way of the crow flies.
david mokal
8:03 pm on Wednesday, November 14, 2012
would make a good Halfway House for drug rehab don't ya think? Or mabe a methadone clinic we need more of those too.
David Marsters
6:43 am on Friday, November 16, 2012
A good marijuana dispensary would be nice. In the basement they could make a nice marijuana plantation!!!!!!!!!
Marc Levine
12:09 am on Thursday, November 15, 2012
The charter school has a garden club that does great work. Possibly they may takeover the upkeep of the WW2 Memorial.
AnnieOMalden
12:10 am on Thursday, November 15, 2012
As a founding family of the charter school I am proud and pleased with the growth of the school. We struggled and perservered during the introduction and initial growth of the school without the wonderful additions that have been made. The Emerson school is a good idea if this relieves the the subpar facilities available at the High School. The price sounds great! What a deal!
The Malden taxpayer side of me want to know if this isn't a sweetheart deal and maybe we could get more since the charter school wants it so bad. They have plenty of money and certainly can afford more than that for an already built school! We don't need to sell the building right now and could wait until the economy picks up. Maybe another school would be interested? Try a little harder to market it maybe? You KNOW Kinnon is working his magic to squeeze the City. He's as cheap as they come and you can bet he lowballed this. Remember what happened the last time the city sold property to Kinnon's school? Thanks to the lousy landlord we lost a fire station in the east side. In his own ward. Has he done one thing to rectify this? Not to mention, also chair of the Safety Committee. I believe fire stations would fall under his purview.
You see my dilemma?
Mike G.
12:23 am on Thursday, November 15, 2012
I did find this interesting quote:
----
April 11, 2012: http://malden.advocatenews.net/committee-ponders-future-of-city-owned-buildings-in-need/
“We did this same exercise two years ago; back then heat and utilities cost National Grid $30,862 a year,” said Ward 6 Councillor Neil Kinnon “It was estimated that the residual value of the building was $600,000 at the time, and this was a very conservative, low estimate. Today it would be worth $900,000, again a low estimate. Unless you can get somebody to rent it and be responsible for the maintenance…”
coldwaterdiver
10:31 am on Thursday, November 15, 2012
Annie, for what its worth, the fire department has been meeting federally mandated arrival times. That fire station was old, in disrepair, and inadequate for todays needs. That said, it was rediculous that they rented back from the school for all those years. Just dont let Emerson go the way of Glenwood and Brown, which i believe both sold for around $400K, (both, not each). How nice would it be for the city to have Glenwood now, large building, plenty of parking, would have been a nice city hall.
Gene Pinkham
10:40 am on Thursday, November 15, 2012
Yes the stone is a WW II memorial and at last night's IACC meeting we were told that the MVCS is going to have the stone cleaned and are honored to have it there. The students at the Charter School do frequent the local sub shops according to the guys at the barber shop who are around all day.
Michael Victor
11:23 am on Thursday, November 15, 2012
Hey if Mystic Valley is part of that "Kinnon Magic" then maybe we need more of it. That school has is one of the best things that has happened to this city in a generation. They are delivering a great education, kids are taught respect and decency from what I can see and you want to talk about about a Councillor who knows how to fight for his Ward and their needs well no deny behnd that. Of course he is a bull in a China shop sometimes but saw crime reports on that facebook crime site and no doubt Crime has dropped big time in the Maplewood area from when he got elected. Squeaky wheel you know how that works. Guess he fits the Maplewood reputation for aggressiveness.
Mike G.
11:29 am on Thursday, November 15, 2012
Despite the adversity that seems to surround him, I've always said that at least he's trying to deliver to the people who live in his Ward; I can't even get a response from my councilor on a seemingly simple issue.
Paul Sullivan
10:59 pm on Thursday, November 15, 2012
The Eagle Has Landed....well done Mr. Kinnon.
Wherever the eagle lands the area surrounding it flourishes.
There will be upgraded and well maintained properties with beautified grounds surrounding.
There will be more flow of positive energy with respectful young teacher's and children who want to make a difference in their community and their country.
Local businesses will benefit and
flourish.
Local neighbors will admire the new efforts to improve the overall quality of the neighborhood.
Wherever the eagle lands the cameras and security systems fall into place improving the overall safety and security of all the citizens of that neighborhood.
Trust in the Eagle.
Layabout
11:20 pm on Thursday, November 15, 2012
Resident parking stickers are needed for Charles/West/Adams with more student drivers . The claim will be very few drive but that is false.
AnnieOMalden
11:37 pm on Thursday, November 15, 2012
Paul: Tell that to the kids warehoused in the Maplewood School. Poor little lambs, like raising veal. This is lipstick on a pig as long as you are not spending time in those old subpar facilities. The real estate portfolio and employment agency for unqualified friends and family has all been built on the backs of these kids. They don't even give their own graduating students any kind of college scholarship for all their efforts and being the actual ones who make the school recieve those accolades. It's not Neil Kinnon, it's those kids. Not one dime. All the scholarships are from donors, including the PTO. What do the non-athletes get out of all this? Zero. The ones who bring the national attention from magazines. Not the soccer team. Or crew. Not even football. It was the scholastics which brought kudos to the school. Time to shower some of that cash you have on the kids who made it rain.
If you have to tell me to "Trust in the Eagle." I become wary of them and immediately distrustful. In some cases you just have to trust your gut.
Gene Pinkham
2:32 pm on Friday, November 16, 2012
The students that will be at the Emerson are not old enough to drive.
Greg
2:39 pm on Friday, November 16, 2012
Great now this school can screw up traffic on Highland Ave just like it's doing on Eastern Ave at their new place. Maybe they can educate the parents on how to read "One Way" and "Do Not Enter" signs so that they enter and exit the property correctly. God knows these people have caused enough accidents on Eastern Ave already.
Michael Victor
3:23 pm on Friday, November 16, 2012
Yea Greg you are right. You ever see those people at Salemwood making the U turns or down at Beebe, Ferryway or Linden? Yea we should close all those schools and redesign the city. Twenty minutes a day twice a day get a life we live in a city. That school on Eastern Ave looks tremendous and what a great thing for that neighborhood.