The Board of Trustees of Historic Sheldon Jackson College recently announced plans to address Sitka's affordable housing crisis by...
Selling off all of the colleges residences.
OK, they didn't really do that. However, the entire first hour and a half of their recent meeting was dedicated to a presentation by realtor Nancy Davis, who listed house-by house the estimated market value of every residence on campus. And it is no secret that the College is "cash poor and asset rich" as Dr. Dobler is fond of saying. Putting two and two together, it seems to be just a matter of time before a few "for sale" signs adorn the lawns of former staff, student, and faculty homes.
According to Mrs. Davis, some proprties are more valuable and easier to sell than others. Lincoln Street houses are the most desirable, but the Board is less likely to want to part with them. The Jeff Davis houses are also desirable. Tougher to sell and develop are the family housing units, incinerator site, and vacant lots in between the two.
Also present at Wednesday's meeting was bankruptcy attorney Cabot Christianson of Anchroage and John Delano of Alaska Growth Capital. Neither of them spoke in open session, and after Mrs. Davis presentation, the Board went into excutive session for the remiander of the day.
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Hopefully the SJ Trustee's will not just let some developer in like BIHA to reap all the benefits. SJ needs to hire a developer that will develop the land into buildable sites. Selling large plots of land will not benefit the college well at all. Hopefully the sites with homes on them if sold will be offered up-front for all of us to either bid on them or some type of lottery. The behind the scene sales will only screw SJ in the long run and continue to contribute to our high cost of housing.
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