July 13, 2017
School District takes over Sunset Apartments
By Jerry W. Kram
There has been a change in ownership on Main Street in New Town. The New Town School District has purchased the Sunset Apartments and the adjoining Sunset Motel for $3.3 million.
Superintendent Marc Bluestone said the opportunity for the purchase of the property came about after investigating building two six-plex structures on the district’s 10 acre property just north of Dakota Drive. The cost of building those 12 units was expected to be at least $3 million.
“I was contacted by a representative from Cornerstone Bank who said this property was for sale and asked if the school would be interested,” Bluestone said. “Not counting the motel, it was 26 units for $3.3 million. It seemed like a no brainer.”
The New Town School Board approved the purchase of the apartments and motel in a special meeting at the end of June. Bluestone reported on progress of the transfer of the property from private ownership to the district. He said there were some complications that the business office was dealing with such as transferring the current motel staff to the district’s payroll and insurance.
Superintendent Marc Bluestone said the opportunity for the purchase of the property came about after investigating building two six-plex structures on the district’s 10 acre property just north of Dakota Drive. The cost of building those 12 units was expected to be at least $3 million.
“I was contacted by a representative from Cornerstone Bank who said this property was for sale and asked if the school would be interested,” Bluestone said. “Not counting the motel, it was 26 units for $3.3 million. It seemed like a no brainer.”
The New Town School Board approved the purchase of the apartments and motel in a special meeting at the end of June. Bluestone reported on progress of the transfer of the property from private ownership to the district. He said there were some complications that the business office was dealing with such as transferring the current motel staff to the district’s payroll and insurance.
