So the Dallas-based developer sold school officials a 15-acre parcel at an undisclosed price. Local area land brokers, however, tell GlobeSt.com on condition of anonymity the dirt is valued at about $70,000 per acre or $1.05 million.
The $7 million development cost comprises the land, construction costs and startup fee for furniture, fixtures and equipment. The school, offering classes from kindergarten through the eighth grade, plans to open in August 2002.
Local general contractor McCree Construction plans to break ground on the 68,200-sf project in January. The site is at Terra Vista and Tacon Drives in the Vistas neighborhood of Hunter's Creek. The community has an estimated permanent population of 20,000.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
