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United Properties to buy surplus school in Thompson

LOVELAND — The Thompson School District has approved the sale of Monroe Elementary School in Loveland.

The district board voted unanimously this week to accept a letter of intent that would, pending negotiation of a sales contract, sell the school located along U.S. Highway 34 in central Loveland for $6 million.

United Property Development LLC, which is headquartered in Minneapolis but with an office in Denver, submitted the letter of intent Sept. 15. The district had declared the property to be surplus in October 2021 and placed it on the market. While still in use this year, students from the school will be moved to a reconfigured Conrad Ball Middle School, which starting in fall 2023 will be a K-8 school and include students from Monroe and Mary Blair elementaries as well as the Conrad Ball.

The school board’s resolution this week authorized the district superintendent or the chief operating officer to negotiate the sales contract. Proceeds from the sale will be used for capital-outlay purposes, the board said.

Email and telephone contacts with United Properties in both Minneapolis and Denver were not returned.

United Properties has been active in Northern Colorado in recent years. It is working on a three building industrial/warehouse property in the 2534 development in Johnstown. United also develops office, retail and housing projects.

Source: BizWest