BAY ST. LOUIS — The sale of the old Second Street Elementary School is finally complete.
Bay-Waveland School District attorney Ronnie Artigues Jr. said in an email this week, “The last two documents were actually signed this morning. It is now closed.”
New Orleans developer Jim MacPhaille and his wife are the new owners of the property and building. He has said he’s still mulling over what will become of the historic building. Top possibilities mentioned are a condohotel, a theater and restaurant. MacPhaille has said he wants to keep the neighbors involved and happy with whatever his development turns out to be.
The sale price was $768,000, according to Artigues, who said the money actually will go to FEMA. “We do not actually send them a check, but FEMA will recover the amount of the sales price from total benefits paid to the school district. They basically receive the sales proceeds, just through set off of benefits paid,” he said.