Developer plans to turn Niles Westside School into senior housing
Published 10:57 am Monday, March 7, 2016
An Indianapolis-based developer has expressed interest in purchasing the Westside Administrative Center from Niles Community Schools and turning it into senior housing.
In a letter sent to residents living near the administrative center, Supt. Dan Applegate said TWG Development plans to reuse the building and add on a new construction addition.
TWG’s proposal is to provide 60 units of senior housing there.
The Niles school board was expected to enter into a contract with TWG for the building’s purchase at Monday’s regular meeting.
However, Applegate said the sale would be contingent upon a number of factors, including TWG obtaining tax credits for the project and inspections.
If the sale goes through, Applegate said the administrative offices and programs currently housed at Westside would be moved to the district’s Oak Manor building.
He said the soonest that could happen would be the start of the 2017/18 school year.
Niles Community Schools has been trying to sell the Westside building since voters approved a pair of bond proposals worth $40 million in May 2015, paving the way for several major construction projects throughout the district that will begin this spring.
Applegate said the Westside building would be sold for more than $500,000, according to the current proposal.
That money, he said, would be used to fund additional projects during the upcoming bond construction.
According to a TWG Development informational brochure, the company has more than 25 years of experience in developing and financing real estate transactions.