Duluth Central High School, which sits on a hill that overlooks downtown Duluth and Lake Superior, will be developed into housing.
The Duluth School District is selling the 77-acre site to Harbor Bay Real Estate Advisors for $10 million, the Duluth News Tribune reports. The sale is expected to close by July 31, and work on the site could begin as early as summer 2015, WDIO notes.
"This newest opportunity will allow us to continue to meet the need for new housing units in the city of Duluth, as Duluth continues to see strong job growth," Chris Eng, director of business and economic development for the city, told MPR News.
The development could include apartments, town homes, single-family homes and retail and office space, reports note.
"This is a very exciting step in the development of some of the land with the greatest potential in our beautiful city," Duluth Mayor Don Ness told MPR.
The Duluth School District listed the property after closing the school in 2011 when it reduced the number of high schools in the city to two.
Selling the site is expected to save the district money on insurance, maintenance, security and utility costs, Northland's NewsCenter notes.
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