Project Information
Client
Campbell Union High School District (CUHSD)
Location
San Jose, CA
Project Size
12 acres
Completion Date
2020
Value
Terra Realty Advisors, Inc., working with the Campbell District staff & board, structured a multi-tiered transaction that will generate over $1M per year in general fund revenue, with asset values exchanged totaling $48M.
Project Notes
Robson Homes, a well-respected local developer, purchased the Hertitage Village Office building in San Jose for $22,000,000 and then exchanged that property for the 6 acres (highlighted in red above), with a value of $27,000,000, to develop 40 single-family homes. The district will lease out the office space at Heritage, creating a new revenue stream of approx. $1M per year. The area shaded in green was rezoned to allow a self-storage facility.
Highlights
- Structured multi-tiered transaction for the district
- TRA assisted in obtaining project entitlements, including general plan and zoning changes to permit this development
- Project expected to generate significant new general fund revenue for CUHSD
- Total Project Value: $48M
