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JewishJournal.com

September 12, 2012

Shalhevet looks for financial security in property sale

http://www.jewishjournal.com/los_angeles/article/shalhevet_looks_for_financial_security_in_property_sale

Shalhevet high school is close to finalizing a deal to sell more than half of its 2.4 acres to a property developer who plans to build an apartment complex on the lot at the corner of Fairfax Avenue and San Vicente Boulevard.

The plan will put Shalhevet on firmer financial footing, head of school Ari Segal told the Boiling Point, Shalhevet’s school newspaper. The school currently carries heavy debt and has limited funds for capital improvements and programming, Segal said. 

The school plans to either renovate or completely rebuild the structures on the remaining half of the property, starting after this academic year. The contract stipulates that the buyer will not take possession of the property until construction of a new school building is complete, so Shalhevet can use the other side of the facility during construction, the Boiling Point reported. 

“We have a lot of time,” Segal told the Boiling Point. “It will be a year before we need to move out of our side of the building — until then we will have 12 months to fundraise.”

Segal said the sale would mean capping enrollment at 240 students. There are 162 students enrolled this year.

“But to be perfectly honest, I love the idea that we should focus on having 200 students,” Segal told Jacob Ellenhorn, editor of the school paper. “Part of what makes the school unique is that every single student has a voice, and every member of the community really knows each other. I find that once you get past 200, and certainly past 240, you lose that intimacy.”

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