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D11 property sold for affordable housing development - KOAA.com | Continuous News | Colorado Springs and Pueblo

D11 property sold for affordable housing development

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COLORADO SPRINGS -

Colorado Springs School District 11 is getting $175,000 after selling a vacant property of land to former insurance agent Don Bates.

'This sounded like something that we were interested in and it also sounded like something where we could get more kids in our school district,' said Elaine Nelaski, a member of the District 11 school board. 

The property was donated to the school district and another buyer purchased the land in 2006, that buyer defaulted on a loan giving the district more than $300,000. 

The school district sees the sale as a win-win, Nelaski adding that the sale will save the district $5,000 a year that's been used to maintain and clean up the area over the years. 

'If it's good for the district its good for the taxpayers,' said Nelaski. 

The school board says the property does present some challenges for potential development.

The property backs up into an area of open space, it's also near the Colorado Springs Airport. 

'They think that its something they can work with,' said Nelaski. 

For some neighbors, in the area such as Eric Eaton, he's concerned about development coming to the area. 

Eaton believes there is a need for affordable housing, '[ we need to] get places that people can afford to live that aren't impacting our public lands,' said Eaton. 

A broker for the deal says the earliest development would happen is sometime late 2018. 

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