APS has finalized the purchase of a 56.6 acre land parcel in Buckhead for construction of a new high school.
APS’ share of the cost of the property is $55.3 million. IBM, which currently occupies the site, will pay $23.6 million to the former property owner, Jamestown Properties, to satisfy the remainder of its lease agreement.
The land parcel will become the site of the new high school, which will replace North Atlanta High School. The newly refurbished North Atlanta High School will be converted to a middle school for the area, replacing Sutton Middle School. The new school is scheduled to open in August 2013.
Plans are to retain many of the existing structures on the property, including a parking deck and lots and buildings. The total estimated cost of the project is approximately $100 million, including the cost of the land.
The sale was finalized on May 2.