I am hearing disturbing things about another Bay Waveland School District real estate deal…….

Here is the setup via the Seacoast Echo:

The sale of the old Second Street Elementary property in Bay St. Louis has been slightly delayed, but the prospective buyers have put up $100,000 to sweeten the deal.

At a special meeting on Friday, the Bay-Waveland School District Board of Trustees approved an amendment to its commercial real estate contract with New Orleans developers Jim and Catherine MacPhaille.

The deal was expected to close on May 2, but the amendment extends the closing until May 20. School board attorney Ronnie Artigues told board members that the delay is necessary because the MacPhailles are in the midst of another real estate transaction.

Once again doing research on a topic leads me to a St Chas mansion via the Times Picayune social pages:

Queen Anne-style house matches the grandeur of the Uptown park it overlooks ~ NOLA.com

So these cats live in a multi million dollar mansion with a view of Audubon Park and yet they are jonesing on a $786,000 steal in the heart of Old Town Bay St Louis? After all these are the same folks that shelled out $2.45MM on a historic school in NOLA just for the heck of it. Continue reading “I am hearing disturbing things about another Bay Waveland School District real estate deal…….”