Schools
Developers Place Bids for Cabello Campus
Proposals for the campus range from $6.4 million to $14.7 million.
The New Haven Board of Education accepted 11 proposals for developers interested in purchasing the former Cabello Elementary School site this week.
The offers ranged from $6.4 million to $14.7 million from developers such as Pulte Homes, KB Homes, Ponderosa Homes and Dutra Enterprises, among others.
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Ponderosa Homes offered the highest bid of $14.7 million at $320,000 for 46 lots, according to a staff report.
The board has 30 to 60 days to select a proposal.
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District staff will make a recommendation for the most desirable project at the June 18 meeting, according to the report.
The district announced that it would be selling the former Cabello site, located at 4500 Cabello St., in October.
The school has been closed since 2007.
Akur Varadarajn, the district’s chief business officer, said that the selling of the property would help generate funds to offset the budget cuts the district ahs recently faced.
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