Collegiate School purchases old Burger's Market
LOUISVILLE, Ky. (WDRB) -- The Louisville Collegiate School announced its purchase of the old Burger's Market at the corner of Grinstead Drive and Ray Avenue Friday.
Collegiate says it doesn't yet know what it will do with the location, but the school already owns two adjoining land parcels next to the property.
“Our campus is currently landlocked in the Highlands,” said Dr. James Calleroz White, Head of School at Collegiate. “As would most independent schools that are landlocked, we capitalized on this opportunity to acquire the property.”
According to Tyler Smith, Principal and managing director for PRG Investments, the Collegiate School formed LCS Burger LLC -- which is a separate entity from the school -- to buy the property.
The Burger Family is not part of the LLC, but helped with the financing of the purchase. The land is now held by LCS Burger LLC while the school's board of trustees is "considering what to do with the property."
According to Dr. White, the school designed a master plan a few years ago and that property was not included because at the time because the Burger's Market business was still in operation.
White says the LLC had to be formed to complete the paperwork necessary to acquire the property and give the board time to figure out what to do with it.
“We will spend the next several months going back to the master plan and figuring out what is the best course of action moving forward.” White said. “Rolling it into existing property is not something you can do right away.”
The land is located at 1101 Ray Avenue and adjoins the property at 2440 Grinstead Drive, which is also owned by the Louisville Collegiate School. Together with 2448 Grinstead Drive, the three pieces of land give Collegiate ownership over two buildings on the block.
One of the buildings is already the school's fine arts building, the other property is a parking lot for the school.
The school also recently built athletic fields on Champions Trace Lane, near Bashford Manor.
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