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The would-be treasure that is the old Granite High has been waiting for a metamorphosis — and it may have time after Mayor Cherie Wood vetoed plans to plop homes and shops on the South Salt Lake site.

Garbett Homes and Wasatch Property outlined a proposal for 78 single-family houses on 13 acres to go with commercial and retail development on 10 acres along 3300 South, just east of 500 East. They also called for a 3-acre park.

The century-old school and outbuildings would be demolished.

The City Council voted 4-3 for the plan, but the mayor put on the brakes last week. The council may seek to resurrect a modified proposal.

As it stands now, Wood said the plan leaves too many unanswered questions and does not provide enough definition surrounding commercial development and open space.

Wood also noted that Granite School District eventually may lower its $10.6 million asking price.

She also discounted the council's notion that the school district would not participate financially in a development. The district, she said, could agree to tax-increment funding through South Salt Lake's community development area, which is similar to a redevelopment area.

Not least, Wood said, the proposal was unclear on who would buy and maintain the open space.

Developer Bryson Garbett said Monday that his company and Wasatch Property had been working with South Salt Lake and the Granite School District for the past year on the proposal. The school district, he said, is firm on the price.

"It's a great site, and we would like to build a neighborhood there," Garbett said. "It would bring life into the community and schools."

South Salt Lake leaders have tried unsuccessfully for years to breathe new life into the old buildings and surrounding grounds. In 2011, a $25 million general obligation bond that would have converted the school into a community center failed by nine votes. Two years later, a plan to refurbish the high school as a movie studio unraveled.

Recently, many residents have voiced opposition to the new proposal because, among other criticisms, Wasatch Property has said it would bring a Wal-Mart to the area.

Councilwoman Portia Mila said Wal-Mart is a sticking point with her constituents in District 4, which abuts Granite High to the south.

"It's not something my constituents want," she said. "They feel it's not a great fit for our community."

If the developer would bring a retailer other than Wal-Mart, Mila said, it could be a big step in the right direction.

Councilman Shane Siwik voted in favor of the proposal because it would boost the city's revenue from property and sales taxes.

"I saw the homes as a real key element," he said. "I thought it was a good mix of commercial and open space."

Siwik said the council does not have enough votes — a supermajority of five — to override the mayor's veto.

Nonetheless, in accordance with a city ordinance, the council has called a special meeting for March 22 at 7:30 p.m. to discuss the matter further.

Siwik described the upcoming meeting as a "consensus-building opportunity to see where people can give and take."

It also could be a chance for Garbett and Wasatch Property to take a mulligan, he said. "It will enable the developer to come back with a better sense of our expectations."