The former Selwyn School campus in west Denton may have been saved from foreclosure, at least for now.
Selwyn deeded the property, located at 3333 W. University Drive, to Pilot Point-based company Volunteer Enterprises on Thursday. The deed satisfied a previous $3.2 million debt Selwyn owed Volunteer and allowed both the company and the school to avoid foreclosure proceedings.
"Selwyn wishes to express its appreciation for the support shown to the school by Volunteer Enterprises," read a joint press release. "Volunteer Enterprises remains a supporter of the school and wishes it the best at its new location."
In March, Selwyn moved to a new location at 2270 Copper Canyon Road in south Denton after partnering with an anonymous foundation that oversaw the purchase of the new property. A clause in the 1964 deed for the West University Drive property said the land, along with any debts, would go to Denton ISD if Selwyn moved.
Brandon Hart, an attorney for Volunteer Enterprises, wrote a letter to Denton ISD on Sept. 6, saying Selwyn defaulted on its loan and Volunteer was looking at foreclosure. Denton ISD school board members then voted unanimously to relinquish their rights to the property.
The campus on West University Drive had been in operation since the early 1960s, with many buildings designed by Denton architect O'Neil Ford. After a fire destroyed the main building in 2012, plans were drawn up for new buildings, but the school lacked funding to see them through.
Today, the property is surrounded by open fields and industrial spaces, but it's unclear what it might be used for in the future. Hart said he didn't believe Volunteer had any immediate plans for the former campus.
Selwyn board chairwoman Darcy Loveless said the school has worked hard to get its finances back in order since the 2012 fire.
"I do believe that the school's financial situation has stabilized," she said in an email. "The foundation we have partnered with owns our current site at this time. We are hopeful that it will be a donation in the future."
CAITLYN JONES can be reached at 940-566-6862.