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.