NAD Announces Sale of Halex House is Final!

The National Association of the Deaf is pleased to announce that Halex House, which has served as the NAD Headquarters for the past 35 years, was officially sold for $4 million dollars. Halex House sale net proceeds will be invested with two overriding objectives: preservation of principal funds and generation of interest income.

The NAD started negotiations with a real estate development firm last summer and the sale finally went to closure on Friday, April 14, 2006.

The NAD Board of Directors made the decision to sell Halex House in January 2005 after careful consideration of all available options. The building needed millions of dollars in renovations to provide adequate and safe working conditions - which required funds that the NAD did not have. The NAD Board also considered constructing a new building on the property, but realized that this, too, would require millions for an architectural plan, construction, and temporary staff relocation.

"It was a proud moment in the history of the deaf and hard of hearing community when the NAD purchased Halex House with donations from supporters around the country," said NAD President Andrew J. Lange. "These supporters and others who contributed to pay off the mortgage in 2002 have also made it possible for the NAD to shift gears and begin planning efforts for a future deaf-friendly NAD Headquarters that will be a center for community involvement."

"Halex House was originally purchased in 1971 for $640,000 through the efforts of the first NAD Executive Director Frederick C. Schreiber and the many individuals and organizations who made this purchase possible" said Nancy J. Bloch, Chief Executive Officer. "With its market appraisal in 2004 for just $2.5 million dollars, this successful sale of Halex has enabled the NAD to preserve its original investment many times over, and to plan more effectively for the future."

The NAD Headquarters recently relocated to new leased office space on March 31, 2006, where it will remain for at least five years. The 6,000 square foot office comfortably accommodates staff, volunteers, and interns, and allows for future staff expansion.