Some 450 new homes are slated to be built, along with a more than 60-acre business park, in southwest Rio Rancho as part of an ambitious plan tied to the construction of a new elementary school.
Members of the Rio Rancho Public Schools Board of Education have given their approval to the construction of the new $24 million school to be built off Westside Boulevard on currently vacant land.
The Joe Harris Elementary School has long been in the planning stage, but has been delayed several times due to funding issues.
If all goes according to plan, work on the new school, which will be built for a capacity of 850 students, will begin next January with a June 2020 completion date.
The building of the school will bring with it the development of a large swath of residential construction, including the Cabezon neighborhood to the east of the school off of Unser Boulevard NW.
Homes in that neighborhood, according to sources, could upon completion list for anywhere from $200,000 to $500,000.
The master plan, spearheaded by a unique coalition made up of the City of Rio Rancho and the Rio Rancho Public Schools, along with local developer Pierre Amestoy and the Southern Sandoval County Flood Control Authority, also calls for the creation of a business park, as well as outdoor green space and walking trails.
Money for the project is coming from a number of sources, including $11 million in private investment, $4.7 million from the Southern Sandoval County Flood Control Authority, and $3 million in Rio Rancho gross receipts tax revenue.
By Garry Boulard
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