Information related to Stone Middle School's appraisal, sale for - WSFA.com Montgomery Alabama news.

Information related to Stone Middle School's appraisal, sale forthcoming

Stone Middle, dormant for 5 years, is to become home to 2 breweries. (Source: WAFF) Stone Middle, dormant for 5 years, is to become home to 2 breweries. (Source: WAFF)
HUNTSVILLE, AL (WAFF) -

The plans for redeveloping a Huntsville school property are promising. 

The old Stone Middle School will be home to two Huntsville breweries, and the beginning of what some are calling ’Brewery Row.’ The City of Huntsville also bought four acres of the campus and has plans to use it for a landscaped plaza, including an amphitheater for outdoor events and concerts.

Still, the sale of the property has some people in the community calling for more transparency. The Stone Middle School property sold its 2014 appraised value of nearly $1.14 million to developer Randy Schrimsher. However, in 2009, the same property appraised for $5.8 million.

Huntsville City Schools said the price drop is directly related to the market crash and marketability of the property. Structural issues and other problems with the old school were taken into account. The appraisal was conducted as if the building itself was worth nothing and the underlying land is all that reflects its value.

Many citizens also argue the revitalization for West Huntsville is hard to put a price on and will make a significant, positive economic impact on the city.

Huntsville City Schools said for the sake of transparency they will release information related to the other offers made for the property by Friday. 

Copyright 2014 WAFF. All rights reserved.

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