LEXINGTON, Minn – (June 22, 2017) – A new 184-unit senior apartment building plans to be built in place of the Lovell building and the surrounding 4.39 acres of land.
The city has approved of Dominium Acquisition, LLC, plans to turn the former school into a four story housing complex with one story of underground parking. The price is set at $200,000 with an additional $80,000 for park dedication fees.
Dominium Acquisition hopes to close on the property by October 2018. Construction of the new senior housing will begin immediately after closing.
The Lovell building served as a school from 1949 to 1982 in the Centennial School District. The school started out with only three rooms and grew to 21 rooms with a kitchen, cafeteria and library.
In 1982, Lovell Elementary was closed due to declining enrollment and cost of repairs. The building was then purchased by the city in the early 1990s to house City Hall and the city’s engineering consulting firm with the remaining space being leased out.
Over time, the building became dated and was undercutting the rents of surrounding offices, so the city decided to put the Lovell building up for sale in 2015.
