Brigham Young University today announced the purchase of the Provo High School property.
BYU will pay $25 million for the 25-acre property, as announced by the Provo City School District. BYU is expected to close on the purchase this summer, provided no concerns arise during geological and other studies to be carried out during the due diligence process.
“BYU is pleased to be able to purchase the Provo High School property,” the university said in a statement. “We are grateful to have been able to work with members of the Provo City School District Board of Education and administration through this process.”
Although BYU has not made any long-term plans for the use of the property, it will lease the property back to Provo High School at no charge for a period of 30 months, during which time a new high school will be built in west Provo.
The Provo City School District Board of Education voted in December 2015 to build a new high school and sell the current Provo High School property. A groundbreaking for the new school, to be located at 1300 N. Lakeshore Drive, will take place Wednesday, April 27.
“Through these many decades, Provo High School has been a good neighbor to BYU,” said BYU President Kevin J Worthen. “We wish the students, faculty and administration well as they carry on the traditions and achievements of Provo High in its new location.”