Former school may undergo asbestos removal in preparation for renovations
In Tuscumbia, Alabama, the asbestos-laden former Cave Street School may get a new lease on life as a location for apartments. A private development group has announced that they would like to take on the project. However, they must wait until city officials have done further studies to calculate the current market value of both the school itself as well as the property upon which it is situated.
According to Councilman Randy Davis, a group has been formed to make recommendations related to the future of the building, a group which Davis is the chairman of. The committee estimates it would cost some $500,000 simply to stabilize the building, which is eight decades old. According to the committee, roof work might cost as much as $120,000, with up to $200,000 also needed to replace the windows of the school.
In addition, it has been estimated that it will cost between $20,000 and $50,000 to tackle the much-needed asbestos abatement project. Removing asbestos is required by law, as exposure to even a small amount of the material is considered unsafe. The rare cancer mesothelioma has been linked to asbestos exposure for several decades. Mesothelioma may take many years to develop, but the disease can progress rapidly once the first symptoms have emerged.
According to Davis, the investors budgeted $1.5 million for the project. "This group is willing to put earnest money down," Davis said. "I'd hate to take the risk of somebody coming in and getting it with an auction who doesn't have plans to do what this group is doing. I don't know that we've got a lot of people out there willing to put $1.5 million into this."
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