County accepts $18M offer on old WHS
Watauga County commissioners voted unanimously Wednesday to
accept an $18 million offer from Campus Crest Development for the former Watauga High School
property, located off N.C. 105 in Boone.
The proposal includes a 5-percent commission to be paid by the county at closing to Rick Miller, the buyer’s agent, which would make the net income to the county $17.1 million.
But the process is far from complete, as the acceptance of the bid will trigger an upset bid period in which another purchaser could override the previously accepted offer.
The initial plans for Campus Crest Development, which is based in Charlotte, call for 250 to 500 student apartment units, along with retail space, Miller said previously. The company has not said which specific retailers it is considering.