Tulsa Public Schools says it has received five bids, ranging from $421,000 to $1.5 million for the Barnard school land.
The district opened the bids Thursday.
The Barnard building at 17th and Lewis caught fire in September 2012 and was destroyed. Tulsa School of Arts and Sciences was using the former elementary school at the time. They have since moved to the former Sequoyah school.
The five bids were:
School officials says the district has the discretion to choose any plan and a spokesman said they hope to find one that's compatible with the neighborhood around the old school.
Earlier this year, residents met with the district told them they would like to see homes built on the site.