Charles City, Iowa – It’s official, the Charles City School District has sold the 1930’s portion of the North Grand Building to project’s developer, Shawn Foutch, for a five year, five million dollar apartment renovation.
While it’s been publically known this is happening, what may not be known is the purchase is for one dollar.
Foutch says the sale still means the historic auditorium integrity will remain intact.
The members approved all sale documents for the project Monday night with little hesitation after reassurance from Foutch the building’s historical integrity would not be ruptured.
He says there will be 40 market-rate housing apartments renovated in the 1930’s portion of the building.
Foutch added in other historic renovations his company has worked on it’s ‘nearly impossible’ to change structures like an auditorium.
His company has almost finalized details for development with the city. Foutch estimated construction would start as early as 2021 and end as soon as 2023. The school district is still allowed to utilize the space until renovation begins.