With the real estate market in a slump, the Jefferson Parish School Board is having second thoughts about off-loading one of its prized assets: the former Haynes Academy campus on Metairie Road.
In August, the School Board is scheduled to vote on a motion to remove the 8.3-acre tract from the list of properties it tasked a broker with selling.
The author of the motion, School Board member Clay Moise, said he wants to see what happens with the real estate market over the next 12 to 18 months before listing the property.
The board is also in the early stages of developing a long-range strategic plan to replace its aged campuses with “new, large modern schools that are relevant to a 21st-century education,” Moise said.
Given its size and location, the former Haynes campus “would be suitable for another school,” Moise said. The school buildings that were there are now nearly demolished.
A track loader construction machine rolls through the mud at the former Haynes Academy in Metairie, La., Friday, July 12, 2024. (Photo by Matthew Perschall, The Times-Picayune)
Moise floated the idea of holding onto the property last year after it was appraised for a lower-than-expected $12.3 million. A second appraisal was even less optimistic, coming in at under $10 million.
“Our broker has been very vocal that neither one of those is close,” Moise said.
The future of the tract has been closely watched ever since Haynes Academy for Advanced Studies relocated to the former Grace King High School campus last year as part of a districtwide reorganization.
Fronting Metairie Road, the property initially sparked interest from commercial developers, alarming neighbors who worried that new businesses could make drainage and traffic problems worse.
In response, the Parish Council passed a string of resolutions affirming their commitment to keeping the property zoned for residential use and creating a Haynes Redevelopment Advisory Committee.
Jefferson Parish 5th District Council member Hans Liljeberg, who represents the area, said the committee hasn’t met since he entered office earlier this year, but said he’s following what happens with the Haynes tract closely and will keep residents informed.
Mud sits where Haynes Academy previously sat in Metairie, La., Friday, July 12, 2024. (Photo by Matthew Perschall, The Times-Picayune)
With skyrocketing property insurance premiums and higher-than-usual interest rates, the real estate market in south Louisiana has faced significant headwinds in recent years.
Moise noted that the market in the area surrounding the Haynes tract is relatively stable. Still, he said, it’s seen “some contraction.”
The School Board will vote on the measure at its meeting at 6 p.m. Aug. 6 at 501 Manhattan Blvd., in Harvey.
