The future of Ventura Unified School District’s nearly 25-acre headquarters property on Stanley Avenue is becoming much clearer.
On August 25, the Ventura Unified School District Board of Education approved the sale of its Education Service Center at 255 W. Stanley Avenue for $39 million. The property is being sold to an affiliate of MW Investment Group and HCD Investments LLC and is expected to eventually be redeveloped with housing.
But this isn’t a typical real estate transaction.
Instead of receiving the entire $39 million purchase price in cash, Ventura Unified will receive approximately $21.5 million in cash, with the remainder coming in the form of roughly 50 finished housing units that will be owned by the District.
Ventura Unified Will Own Approximately 50 Homes
Under the agreement, the buyer will develop the Stanley Avenue property with a combination of market-rate and affordable housing.
As part of the purchase price, approximately 50 completed housing units will be delivered directly to Ventura Unified. The District says those units are valued at an average of approximately $350,000 each.
Ventura Unified plans to use the homes as workforce housing for teachers and other District employees.
The District is still determining exactly what types of units it will request, including the appropriate mix of one-bedroom, two-bedroom and potentially other configurations. Employee surveys are being used to help determine that mix.
Before the units become available, the District will also develop and publicly share a policy governing how they will be leased.
Why District Ownership Matters
One of the most interesting aspects of the agreement is that Ventura Unified will own the housing itself.
Because the units will not be part of a traditional subsidized affordable housing program, the District says it will not be bound by the income limits that typically determine who can qualify for affordable housing.
That could allow VUSD to offer housing to employees who fall into a difficult middle ground: those who earn too much to qualify for traditional affordable housing programs, but still struggle to afford housing at market rates in Ventura.
The District will have the ability to determine which employees receive priority and establish rents for the units.
Superintendent Dr. Antonio Castro said the structure gives the District more flexibility to help its employees live in the community where they work.
What Will Be Built on the Rest of the Property?
The Education Service Center occupies approximately 24.88 acres at 255 W. Stanley Avenue.
Under the agreement, portions of the property are expected to be used for market-rate housing and affordable housing, while another portion would be leased for affordable workforce housing.
However, many of the details of the future development are still unknown.
The District has not announced exactly how many total homes will ultimately be built on the property, and the project will still need to proceed through the City of Ventura’s planning and entitlement process.
That means the Board’s approval of the sale does not mean construction is about to begin.
What Happens to Ventura Unified’s Headquarters?
Ventura Unified has been preparing for the eventual relocation of employees currently working at the Education Service Center.
According to the District, employees could be moved to other existing District-owned properties or potentially to school campuses that are no longer operating as schools, depending on the outcome of the District’s ongoing school closure process.
The move is still at least a year away, and VUSD says District operations will continue without interruption.
Where Can the $21.5 Million in Cash Be Spent?
The cash portion of the sale also comes with restrictions.
Under state law, proceeds from the sale can be used for repairs and improvements to Ventura Unified facilities. The money cannot be used for salaries, supplies or other day-to-day operating expenses.
The Stanley Avenue sale comes after a multi-year public process examining the future of District-owned surplus property. A Board-appointed “7-11 Committee” studied the District’s real estate holdings and gathered community input, with the Board ultimately declaring the Stanley Avenue property surplus in 2021.
What Happens Next?
The Board’s approval authorizes District officials to execute the purchase and sale agreement and move forward with escrow.
The transaction still needs to be completed under the terms of that agreement.
After that, any proposed redevelopment of the Stanley Avenue property will have to work its way through the City of Ventura’s planning and entitlement process before construction can begin.
So there are still significant details to come, including the total number of homes, the design of the development, the housing mix and the eventual construction timeline.
But after years of discussion about the future of this nearly 25-acre property, the overall direction is now much clearer: Ventura Unified is moving toward selling its longtime headquarters.
