The recession is helping the school system find land for a new elementary school in northwest Raleigh.
The school board voted Tuesday to pay $2.54 million for 30.834 acres at the intersection of Baileywick and Strickland roads. Wake is buying the site from the Federal Deposit Insurance Corporation, which is the receiver for the parcel.
According to a 2008 Triangle Business Journal article, a subdivision had been planned there. But the bank foreclosed on the Raleigh real estate investment firm that owned the land.