Appraiser put the price of the 253 acre forest site for a planned university in Payson at $4.1 million, well below expectations, putting the plan for a university in Payson one step closer.
With the appraisal complete, backers of the university plan to meet with Arizona State University representatives to share the results of an analysis of the cost of building the university on each of proposed sites.
The proposed sites including the 253 acre forest service site near the Payson Ranger Station, a site across the highway next to Gila Community College, a +/- 80 acre site along Tyler Parkway and a +/- 113 acre site on the Payson Golf Course.
The Forest Service site and the golf course site remain the two most seriously considered alternatives, and with the appraisal for the Forest Service location coming in well below expectations the price tags for the land are now similar.
While the Forest Service site would still likely have higher building costs due to the terrain and the need to extend utilities, the golf course site has potentially flood control and drainage problems in addition to neighborhood opposition.
A 4 year University in Payson would definitely have an impact on Payson and the surrounding Rim Country as it would bring in new industry, people and jobs.
I believe a university would bring vitality to the town of Payson, bring in young people, give the young people of this community more opportunies.
The development of new commercial businesses and housing will bring more jobs to our community and give the community a jump start.
Other potential benefits would include expansion of bike trails and alternative transportation; enhanced cultural opportunities available to the residents of Payson and the Rim Country, expansion of retail, restaurants and other services offered in our community.
If you too are considering opening or relocating a business to Payson, let me know how I can help you with your commercial real estate needs.
The views and opinions expressed in this commentary are those of Richard D Chapin, PLLC as of the date of publication and are subject to change, and do not necessarily reflect the views of Arizona Elite Commercial and/or its affiliates.
This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always seek legal and/or tax advice to obtain further information you deem necessary. I want you to be prepared.