CASE STUDY

Richardson Independent School District

707 East Arapaho Road
Richardson, TX 75081

Assignment Size

  • 101,500 SF
  • 1,250 Apartment Units
  • 100 Acres of Various Land Parcel
  • Assemblages

Occupier Services Provided

  • Acquisition & Disposition
  • Condemnation Consulting
  • Market Research
  • Strategic Planning
  • Financial Analysis
  • Feasibility Studies
  • Tenant Representation

Client Feedback

You took the time to listen and understand our needs and timeframes. I consistently felt we were your top priority throughout the process . You and your staff exceeded our financial expectations and perfectly matched our timing needs.

Tony Harkleroad
Assistant Superintendent
Copyright ©2022 Citadel Partners, LLC The information contained herein was obtained from sources deemed reliable and is believed to be true; it has not been verified and as such, cannot be warranted nor form any part of any future contract.

The Challenge

The Richardson Independent School District (RISD) desired to dispose of unessential real estate and acquire strategic sites that would allow for future growth. The changing demographic profile of the aging school district, achieving the on-going demands of educating Texas children and working within the restrictive legislation of the Texas Public School Finance were three obstacles that needed to be overcome.

Our Strategic Approach

  • Identify the surplus real estate
  • Create a competitive platform to sell the surplus real estate in a soft market to maximize value
  • Work with the City to create additional incentives to motivate the purchasing community
  • Assemble alternative properties for future site acquisition for school development

The Outcome

Citadel Partners was successful in selling excess assets, reducing the facility operating costs and meeting student demand. The pressures of the Texas Public School Finance continue to be met without denigrating the quality of education to students.

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