After the recent rejection of its massive $4.4 billion bond proposal, the Houston Independent School District (HISD) is considering selling off 19 properties to help make up for some of the district’s financial gaps.
The proposal, which was meant to fund major upgrades to heating, air conditioning, security systems, and expand educational programs, was the largest in Texas education history.
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So now, HISD is turning its attention to real estate.
At the school board meeting Thursday, officials discussed the possibility of selling facilities like the Brookline, Chatham, Dodson, and East Area Office locations, as well as various undeveloped land parcels, including the North Forest and Southbank acreages. If the board decides to move forward, these properties will be put up for sale.
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This discussion comes as the district faces a huge repair bill—HISD’s independent assessments show it needs a whopping $10 billion just to fix and upgrade its aging schools.
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While no final decisions have been made yet, district leaders are hoping to generate some revenue from these sales to help cover improvements within the district.
