Real Estate Dip Derails School Plan : Renovation: Officials fail to find buyers for Unsworth site. They hope to get at least $8 million to pay for fixing Downey High and other projects.

DOWNEY —  A major classroom renovation at Downey High School has became a victim of the softening real estate market.

District officials recently postponed the renovation indefinitely after failing to sell other school property to raise $5 million to $7 million to pay for the high school project and several smaller plans.

After the agreement fell through last fall, the district has been unable to find buyers willing to pay top dollar for the 10.5-acre site of the old Edith Unsworth Elementary School, said Edward A. Sussman, superintendent of the Downey Unified School District.

Sussman said the district is hoping to receive at least $8 million for the property at 9001 Lindsey Ave.

“We have a lot of needs,” he said, the greatest being the long-planned renovation of the school’s 50-year-old classrooms.

“Cosmetically, they are a disaster,” Downey High School Principal Phil Jones said. “They are old, outdated buildings.”

The buildings have not been painted for years, in anticipation of promised renovations. The plumbing and lighting are outdated, and some classrooms still have old wooden floors.

Last fall, the district agreed to sell the Unsworth property for $9.1 million to a developer who wanted to build single-family homes. District officials even ordered the school to prepare for renovation this summer.

The district bought 35 portable classrooms for $1.4 million to replace the four buildings, housing about 40 classrooms, during their renovation.

However, the developer canceled the agreement with the school district in February after clashing with city planners, who expressed concern about the high density and narrow streets in the plans. Then the residential real estate market began to sag, Sussman said.

Downey Principal Jones acknowledged that he is disappointed by the delay in renovation.

The four buildings that had been scheduled for renovation will remain closed, he said, and classes will be held in the portable classrooms on the east side of campus. The portables, Jones said, are large, air-conditioned and comfortable.

The school district’s attorney, Eric Bathen, said the district is still negotiating with several developers. He said he will discuss the status of those talks Aug. 28 during a closed board session.

Sussman said the property “will stay on the market, until we get top dollar.”