School moves toward property closing

The NewGate School is poised to purchase the former Center for Building Hope building in Lakewood Ranch after raising $580,000 in just 11 days.

Head of School Tim Seldin said a closing is not yet scheduled, but should occur around the end of August.

“There’s a few steps that need to happen, but everything is proceeding smoothly,” he said, noting survey and other closing-related tasks remain unfinished.

Seldin and his wife, Joyce St. Giermaine, a NewGate board member, are buying the property and will lease it back to the school until NewGate can purchase the property from them.

The $580,000 already raised by parents and NewGate supporters will go toward the school’s operating expenses for the next three years to help ensure its financial stability. A goal of $500,000 had been set.

NewGate plans to use the facility for a Montessori high school, comprised of seventh through 12th grade students. NewGates younger students would remain at its campus at 5237 Ashton Road, in Sarasota.

Seldin said once the property is purchased, high school students could move to the campus as soon as it receives its certificate of occupancy.

Located at 5841 Communications Parkway, in Sarasota, the campus sits on 4.8 acres and includes 10,773 square feet of air-conditioned space in two connected buildings. There are offices and meeting rooms, as well as a kitchen area, and larger spaces that Center for Building Hope used for programming for cancer patients.

The bank-owned property currently is listed at $2.295 million.