Austin ISD board of trustees meet June 1 to discuss buying land in south Austin soon rather than later.[/caption]
In a time of rising property values and rising construction costs, or a “seller’s market,” consultants recommended on June 1 to the Austin ISD board of trustees that now is the time to buy land for the future.
“If you have a need now, and you’re here for hundreds of years, go for it,” said Daniel Roth, a principal at Southwest Strategies Group, a commercial real estate consulting firm.
The need Roth referred to was another high school in south Austin. Bowie High School on West Slaughter Lane is overcrowded.
The AISD board is working to figure out if it should move forward with buying land now. Roth said he does not think it is unreasonable to buy land now and build a high school 10 years later.
And by hundreds of years, Roth was referring to how he expects AISD to not go away, as long as Austin itself has longevity.
“W know we have an educational need in south Austin,” District 3 trustee Ann Teich said.
Roth also said to trustees that, in 10 to 30 years, there will be fewer tracts of land in Austin, and those tracts will be more expensive compared to now.
Roth also talked about the pros and cons of buying land in southwest Austin versus southeast Austin.
In southwest Austin, land and construction is more expensive compared to southeast Austin, Roth said. But in both areas, utilities, heritage trees and roadways are an issue, he added.
Austin ISD board of trustees meet June 1 to discuss buying land in south Austin soon rather than later.[/caption]
In a time of rising property values and rising construction costs, or a “seller’s market,” consultants recommended on June 1 to the Austin ISD board of trustees that now is the time to buy land for the future.
“If you have a need now, and you’re here for hundreds of years, go for it,” said Daniel Roth, a principal at Southwest Strategies Group, a commercial real estate consulting firm.
The need Roth referred to was another high school in south Austin. Bowie High School on West Slaughter Lane is overcrowded.
The AISD board is working to figure out if it should move forward with buying land now. Roth said he does not think it is unreasonable to buy land now and build a high school 10 years later.
And by hundreds of years, Roth was referring to how he expects AISD to not go away, as long as Austin itself has longevity.
“W know we have an educational need in south Austin,” District 3 trustee Ann Teich said.
Roth also said to trustees that, in 10 to 30 years, there will be fewer tracts of land in Austin, and those tracts will be more expensive compared to now.
Roth also talked about the pros and cons of buying land in southwest Austin versus southeast Austin.
In southwest Austin, land and construction is more expensive compared to southeast Austin, Roth said. But in both areas, utilities, heritage trees and roadways are an issue, he added.
