On Tuesday, Nov. 21, 2017, HS Development, L.L.C., purchased the former Blacksburg High School from Montgomery County.
“I am glad we have completed the sale of the old Blacksburg High School property,” said Christopher Tuck, Chair of the Montgomery County Board of Supervisors.
Multiple steps led to this sale since Montgomery County began marketing the property in late 2016. On January 5, 2017, HS Development, L.L.C., submitted an offer to purchase the old Blacksburg High School site for $2.175 million; on March 3, 2017, the Board of Supervisors submitted a counter-offer to HS Development, L.L.C., which included several stipulations and an as-is sales price of $3,000,000; on March 7, 2017, HS Development, L.L.C., accepted the terms of the Board’s counter offer and provided a $25,000 non-refundable deposit to the County.
A public hearing was held on March 13, 2017 and an amended sales agreement was signed by HS Development, L.L.C., and Montgomery County in April.
On September 25, 2017, The Montgomery County Board of Supervisors approved an amendment to the Agreement to Purchase the old Blacksburg High School site and the Sale of Property between Montgomery County and HS Development, L.L.C.
The next day, HS Development, L.L.C. advised Montgomery County that they intended to proceed to closing as outlined in the Sales Agreement with the County. Finally, on Nov. 21, 2017, HS Development, L.L.C., officially purchased the property from Montgomery County, paying $1,000,000 at closing. An additional $1,000,000 is due in April 2019, and the final payment of $1,000,000 is due in April 2020.
“Now we will be able to reinvest the three $1 million payments for this property into worthwhile Montgomery County Public School capital projects, such as the Christiansburg High School, positively impacting both our students and our community,” said Tuck.