An investment group that included the late Ed Boesen has informed Des Moines school officials that it is pulling out of a deal to develop the former Rice Elementary School site.
Rice Development Partners told school officials that it intends to terminate an agreement to purchase the vacant school site at 3001 Beaver Ave. for $650,000.
The article quotes the attorney for the Des Moines school district as saying, “we have a valid and enforceable contract,” but I don’t see how they will be able to squeeze money out of this investment group. A long line of creditors are suing Ed Boesen’s estate.
It’s just as well to go back to the drawing board on Rice field. Perhaps it’s better to leave Beaverdale residents to enjoy this green space. If it is developed eventually, let’s hope there are no major conflicts of interest linking policy-makers to the developers selected for the site.