School District Acquires Land in Path of Growth
The land purchased by Katy Independent School District is located off of Katy Hockley Rd., sharing two borders with Newland Communities’ master-planned residential community, and is west of Grand Parkway.
KATY, TX—Acquired by an affiliate of Rockspring Capital LLC in 2014, a 157-acre tract is in the path of growth and future development, and was recently sold to the Katy Independent School District. The land is located off of Katy Hockley Rd., sharing two borders with Newland Communities’ master-planned residential community, Elyson, and is west of Grand Parkway, northwest of Houston.
“Katy’s fast growing population and school district, which are outpacing other markets around the state in terms of growth, made this a strong sale for the buyer,” said Jim McAlister IV, president and CEO of McAlister Real Estate. “We had many prospects interested in the space, especially from single-family developers and builders. But in the end, working with the district on this deal was a great outcome for us and the owner.”
McAlister Real Estate’s Harrison Kane, James Kadlick, Matt Herring and Chris Hutcheson represented Rockspring Capital in this sale. The Katy Independent School District was consulted by Jared and Fred Fargo of Consolidated Property Advisors.