A university in Payson, would not only become a major source for employment, but with most of the students will coming from outside the immediate area the commercial market, including multi-family, should benefit as well.
This plan to build a 6,000-student university, a 500-room hotel, a incubation center, a solar chip assembly plant, a research park and dorms in Payson will impact the the entire region, not the least of which will have a huge impact on commercial property in the Payson area.
Tonto National Forest Supervisor Neil Bosworth said last Thursday, “That Tonto National Forest has settled nearly all of the remaining questions to sell 253 acres for a university campus in Payson and expects to transfer title to the Rim Country Educational Alliance by January.”
Concluding the land sale guarantees the project will go forward. While Arizona State University remains the preferred partner, the Alliance and ASU have to revisit the terms they mostly agreed on late last year, if those talks once again falter, five other universities have expressed interest in operating a campus in Payson.
Payson Mayor Kenny Evans, “predicted construction on the site will start early next year and the first 600 students will enroll in 2015, starting with 600 students in 2015 and building up to 6,000 students in the course of the next decade”, he went on to say, “the gradual buildup will provide time for Payson to develop a workforce that could support such a major, year-round business. The university would have more than twice as many students as the Payson School District, which is currently the biggest employer in town.”
The university campus would likely offer six undergraduate degrees, Two will focus on degrees, like forest management, solar energy. Two will involve education. Two will involve more general education.
The university site should give the opportunity to have 4,000 students living on campus, with the remaining 2,000 students at university build-out living in the community. With an expected 90 percent of the students will coming from outside the immediate area the multifamily commercial market should benefit as well.
This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always feel free to consult an attorney and/or tax adviser to obtain further information you deem necessary. I want you to be prepared.