The addition of a state-of-the-art high school campus to any city is generally considered to be a boon, especially to real estate.
With the campus now positioned on the eastern end of Cortez, an area of the city with room to accommodate growth, some are optimistic about the effect it could have on the housing market.
Since Jan. 1, Cortez has seen $2.3 million in new residential construction, with much of it concentrated on east-end neighborhoods.
Cortez planning and building director Sam Proffer says the neighborhoods seeing the most growth are Fairview Estates, located on the edge of Conquistador Golf Course; Brandon’s Gate, northeast of Southwest Memorial Hospital; and Southern Bluffs, a mile west of the new high school on Seventh Street.
Terry Sadler, president of the Southern Bluffs homeowners association, says that growth in the neighborhood has picked up recently as three new home starts are anticipated in the next few weeks.
“As far as the new high school goes, we’re very enthusiastic about it. I know there are a lot of parents that want to have their kids close to school, and we’re pretty convinced that there will be growth because of that proximity,” said Sadler.
Real estate broker Terry Woodrow, of 4 Corners Properties, is reluctant to pinpoint what neighborhoods could benefit more from the new school, as generally these types of major construction projects benefit the entire city. She notes that prospective buyers new to the area are noticing an increase of foot traffic and open businesses in downtown Cortez, and the new construction on the eastern end of Cortez, including the new high school.
“One of the effects of the new high school I think, is when people drive through Cortez now, people say it looks like things are really happening,” she said. “Because a lot of people come here from large cities, they’re used to that (new construction, technology), and they certainly don’t want to be going backward. I think it (new high school) really is a selling point. With the old high school, I never drove people past it, I would avoid the area.”
While a brand new high school building is an obvious plus, Century 21 broker Terry McCabe says that the school district’s reputation and scores are generally high up on the list of priorities for those looking to relocate. She says that the real growth will come when the district’s rankings and scores improve.
“We are hearing a lot of comments regarding the new high school, how nice it looks. Now I don’t see that it has any effect on buyers or the market, yet. I do know that school scores have a huge effect. Buyers research online the schools in the area they are considering, and I’ve heard comments time and again about the scores of our local schools,” she said.
“I have had folks willing to pay much higher prices and willing to accept lower-quality homes to be in districts that have higher school scores than ours. I think it’s hugely important to buyers to know that the schools in the area in which they live produce a high amount of graduates. I don’t think that ideal is limited to buyers with school-age kids. I think most people want to know the schools in the area in which they live have a higher graduation rate and high level of community involvement.”