A rather large group of us spent Sunday the 12th out at Laurelwood Academy. We brought electricians, contractors, farmers, permaculture designers and more – and spent several hours touring the grounds and inspecting the buildings fairly thoroughly. The consensus is that it would take literally millions of dollars to get the property up to speed.
Additionally, we have learned through the due diligence process some unfortunate details, including an auction reserve that is much higher (but still unknown) than the starting bid. I believe the current owners are hoping to get $6-$7M out of the property, which is simply untenable – especially given the amount of time and money we would need to put into the place.
We are disappointed, but confident in the core group and our desire and ability to move forward to whatever comes next.