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Over the past four years, the City Council and School Board have taken an extensive look at the possibilities, considering options for a new school that include full gut renovation and addition; partial renovation and addition; phased building over 10 years; and new building.
The City of Falls Church government conducted an economic feasibility study where consultants estimated that as much as $45 million could be earned by the City’s long-term lease or sale of the 10 acres.
Because of limited space on the site, the new school would need to be built before the existing building can be taken down for commercial development. As a result, the City will need to issue bonds for the full cost of the school before the commercial development revenue from the sale or lease of the property is available.