Bally’s Foundation purchases Preston High School, preventing closure
As part of the deal, Bally’s will lease the building back to the school for $1 per year for 25 years.
Top Stories
After a long fight to keep its doors open, Preston High School students, teachers and alums received some good news - the school will stay open for another 25 years.
But the deal did not come easy, after several offers were denied and the attorney general had to get involved.
The announcement comes nearly two months after Preston High School announced it would be shutting down at the end of the school year.
Students and their families had been fighting to save it with no success.
Attorney General Letitia James stepped in to facilitate an agreement between the Sisters of the Divine Compassion, which owned the school's property since the 1940s and the Bally's Foundation. Both parties agreed to an $8.5 million deal. The foundation will lease the building back to Preston for $1 a year for the next 25 years.
News 12 spoke to the attorney general about why this needed to happen.
"Preston is going to stay open for the foreseeable future," said Attorney General James. "We're going to continue to produce generations upon generations of young women who will lead this nation."
Bally's is currently bidding to bring a casino to Ferry Point Park, a proposal that's stirred some concern in the neighborhood.
The company says the deal is about proving its long-term commitment to the community.
Preston's principal says the school is looking forward to serving students for years to come.
RELATED STORIES:
Jennifer Lopez sends message of support for alma mater Preston High School
Attorney General James holds public hearing on future of Preston HS
Preston High School to close its doors at the end of the school year
Hundreds rally against looming closure of Preston High School
Preston High School Board of Trustees says decision to close school is 'final'
