Former I.J. Samson School back on the market

Three months after the former I.J. Samson school in St. John's was sold for $189,000, the property is back on the market for ten times that price.

Real estate agent Jim Burton saidWhiteway HoldingInc. has listed the 53,000 square foot building and 3.25 acres of land for $1.89 million.

• Vacant I.J. Samson school valued at $2M, sells for $189K

Previous reports identified Metro Environmental Services as the owner of I.J. Samson, while the seller is now listed as Whiteway Holding.

Both companies are based in Heart's Desire, registered to a single director: Terrance Penney.

Price includes remediation

Burton explained the asking price includes the cost of remediation whichhas yet to start work he said is estimated to cost in excess of $1 million.He said the remediationwork will be done by the seller as part of the sale.

St. John's Centre NDP MHA Gerry Rogers said this proves the province wasted an opportunity when it sold the 72-year-old school property in June.

"This was such irresponsible stewardship," said Rogers, "and it just goes to show now, the fact that someone has bought it and now they're basically flipping it."

Rogers accuses government of not considering other options before signing off on the sale. She suggests the property could have been developed as seniors' housing or parcels of land could have been sold to pay for remediation work.

"What I find astounding is that this was public property, at a time when we are so disadvantaged economically, and it was actually given away at a fire sale price."

"They don't make any more land in the middle of the city. Once these assets are gone, they are gone."