Maplewood Elementary School may have been sold to a Barrington developer, but there still is a long way to go before the property transforms into something new.
Cary Mayor Mark Kownick said officials have not had recent discussions with Patrick Taylor, owner of Central One LLC, which bought the property from Cary School District 26 for about $2.5 million last month.
“There’s nothing on the table right now,” Kownick said.
The mayor said luxury housing likely would end up replacing the school.
“We’ve had no contact from this developer in almost a year,” Kownick said.
Taylor had proposed to build dense housing at the site featuring 200 multifamily units and 69 townhouses, according to a revised proposal presented late last year.
But village officials have received no zoning petitions from Taylor to develop the site. The property must be rezoned to become multifamily residential space.
Taylor could not be reached for comment.
The village has made no moves regarding redevelopment of the school, which closed in 2010 because of declining enrollment and high costs of maintaining the facility.
Attempts were made to turn the property at 422 W. Krenz Ave. into residential space, and at one point, the village of Cary considered buying the site.
In June, the District 26 board unanimously approved the sale of the property via sealed bid, with a minimum purchase price of $2.5 million. Several days later, a bidder’s information packet was made available at the district office and online.
One sealed bid was received by Central One LLC, which tried to buy the property last year, for $2,500,250.
Built in 1929, the 42,000-square-foot facility was one of the district’s oldest. It sits on 15.6 acres and has a transportation maintenance garage and bus parking lot on-site.