Wait, What? Renaissance Charter School Is Up For Sale Boston Condos For Sale Ford Realty

According to the Globe:

The Boston Renaissance Charter School is looking for a buyer for its building at the corner of Arlington and Stuart streets at the edge of the Back Bay, school officials and real estate executives said yesterday.

Okay, well that sounds all well and good.

UMass bought the building for about $1.5 million in the mid-1960s. The state, which oversees charter schools, initially leased the building to the school in the mid-1990s and later provided favorable loans to buy and renovate it.

This part, I’m not so sure.

I remember when the Renaissance school first proposed taking over the property. I wasn’t too pleased, because I thought the building was better fit for a hotel, condominiums, or office space.

Apparently, everyone else now agrees.

I’ll have to do some research, but my guess is that the Renaissance got a sweetheart deal when they bought the property.

Now, it appears they’ll sell and pocket all the proceeds.

Did Massachusetts taxpayers lose out?

I’ll leave it to our cracker-jack local reporters to snuff out the story.

More: Charter school planning to sell prime spot on edge of Back Bay – By Thomas C. Palmer Jr., The Boston Globe

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