A report to council last week said the Town of Yarmouth has entered into an agreement with developers Paul Underhill and John Hannam to purchase 52 Parade Street from the town.
It is subject to a public hearing and final approval.
The former high school became the responsibility of the town in 2014 after school board determined it was surplus.
Mayor Pam Mood says it’s really exciting.
“We’re into a purchase and sale agreement. We passed a motion which would allow 55 units in that building.”
Town council approved a recommendation from the Planning Advisory Committee to proceed to public hearings.
Mood says the town has spent about $120,000 maintaining the building.
Last year a local businessman had made an unsuccessful attempt at proposing affordable seniors’ apartments in the building.
The former high school was put back on the market for $374,900.
In 2015 the property had been assessed at over $1 million.
Here is a link to the development agreement: https://www.townofyarmouth.ca/go.php?f=30434
(Developers Paul Underhill and John Hannam chat with CAO Jeff Gushue and Deputy Mayor Phil Mooney following a council meeting on Sept. 13.-CJLS News photo)
