Pulte chips in $500K for new Dripping Springs School

Why would a homebuilder give half a million dollars to the local school district? Because new schools help home sales. Belterra’s new elementary school, “Rooster Springs Elementary”, will open next fall, and it was surely a selling point for the last two homes we sold there. For the Highpoint subdivision in Dripping Springs, being able to tell families that there will be a new elementary school nearby will help boost interest in the neighborhood.

Hightpoint still has a long way to go until it’s built out. Pulte sold off a number of lots as well as two of its model homes to Wilsher homes, so now there are two builders in Highpoint. I heard from a custom builder that some of the bigger estate lots might be sold to individual customer builders but I haven’t been able to verify that.

Here is a stort about the Pulte donation toward purchasing the land for the new school.

Homebuilder ponies up $500k for Dripping Springs school
Austin Business Journal – 1:31 PM CDT Thursday, May 24, 2007
The Dripping Springs Independent School District is getting $500,000 from Pulte Homes Inc. to help purchase land for a new school in the fast growing community southwest of Austin.

DSISD wants to buy a 49-acre tract on Sawyer Ranch Road to construct a new elementary school. The balance of the $1.85 million price on the property will come from school district funds.

Pulte is making the donation in an effort to help build up the education infrastructure in an area where its highly active. The company’s Highpointe of Dripping Springs project is a 740-acre master-planned development that will eventually include 1,000 homes and has already sold 227 homes since June 2005. Home prices in the development range from $250,000 to $500,000. A number of other residential communities have been announced in the last year, setting Dripping Springs up to be one of the next prominent growth areas in the region.

“The new school will be in a great central location,” says Brent Baker, vice president of land acquisition for Pulte. “It’s right off [State] Highway 290 and close to where families are choosing to live. As this area develops, we want to make sure Dripping Springs is able to manage that growth.”

Bloomfield Hills, Mich.-based Pulte Homes Inc. is a Fortune 150 company with operations in 53 markets and 27 states.

Posted by Steve
9 years ago

Steve is a Real Estate Blogger, Husband and Dad, UT Austin Grad, Runner, Real Estate Broker and owner of Crossland Team and Crossland Real Estate in Austin TX.

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dave - 9 years ago

New schools may help home sales, but you need the roads to get to the schools. I discussed
earlier the lack of community support in Travis and outlying counties for road construction
and planning. Here is a article per that very situation. I think this gives a clue as to the
wall sitting in the way of future growth in outlying areas. No bond issues + no roads =
no future growth. I’ve become so tired of the lack of proper road construction here that
I’m moving back to Chicago. I’m sure other future potential residents will feel the same way.
If home values reach a price point, per the recent speen in appreciation, that Austin is no longer a draw per cheap housing, the quality of life issue per the lack of proper road infrastructure will loom as an even more important limiter of growth. The only way lack of roads will be a relative non-factor is if everything goes perfectly. Namely, the local economy continues to hum, and housing continues to stay inexpensive, relatively speaking.
At a certain price point, housing won’t be the same draw per companies and individuals.
Also, if the local economy slows, people won’t be willing to sacrifice fighting traffic like they
are now. Freescale announced layoffs today(thurs), so there may be some tightening in the future in the tech area anyway.
Again, I’ve lived in many places, and never saw such an abject lack of road infrastructure and design as I’ve seen in Austin. I just can’t believe people are willing to put up with it.
Add the lack of other basic infrastructure, such as libraries(library infrastructure set up for a city half the size….still confusion over the building of a new main library downtown…..only
open 5 days a week in all branches), lack of a proper park system throughout the entire area, lack of proper amusements for kids and families(no city-size zoo, no major league team…Austin is not only the largest city without a major-league team, but couldn’t even float a bond issue for a minor league stadium, even with nolan ryan’s backing, no proper museum
nexus for families(Indianapolis, same size, has a huge childrens museum, and a great natural
history museum, along with 2 major league teams, a large zoo, a 20,000 venue outdoor theatre, and a world-class public library system.)…and no amusement parks whatsoever.
Growth without proper planning and support will not last…growth without the ability to float
basic tax referenda and bond issues per infrastruture is unsustainable as well….

Lastly, a link to that article in the new ABJ issue….


dave - 9 years ago

Let me add, as I leave tomorrow for Chicago after my year stay in Austin, that
I’ve met some wonderful people here. The growth of the city doesn’t impress me. The
way the developers and local gov’t have handled theat growth even less so. The
people, however, VERY much so. From the local musicians, to the characters, UT students,
hippies(young and old), foreigners making a new and better life for themselves and family,
and regular folks(that accounts for most people)just living life out here, god bless you all.
There is so much beauty and potential out here, and such a rare spirit, I pray it doesn’t get
crushed soon by all the impersonal, antiseptic big-box growth that has consumed just
about the entire sunbelt area. I believe even the folks in Dallas and Houston hope Austin
stays as much the same as possible. So many people I’ve met from Houston think of Austin
as an almost divine escape from the sprawling rat race out on the gulf. The same from folks
out in Dallas and San Antone. I believe the developers are indeed on the cusp of ruining Austins’
singular qualities right now. If I were concerned at all about the future of this great city, I would join every organization possible to create the smartest growth possible, even if that
means slowing it down a bit. A little sacrifice of time and energy to make it right will make
it infinitely more livable and enjoyable for the folks that intend on being here for the next 5-10
years. The native americans were so wise in their concepts of acting in terms of seven generations down the line(our children’s children’s children). Heed that wisdom, and think at
least in terms of 10-20 years down the line while the developers lick their chops grasping quickly for short-term gains. This is YOUR city, Austin. Not the city halls’, developers,
or businesses’. Take control of it, have pride in it, and guide it to where it needs to be and go,
so future generations can enjoy one of the most unique and beautiful places on earth.

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