Buyer of RISD’s White Rock Trail property plans to build homes

PSW Real Estate has plans to purchase the White Rock Trail property from RISD. This photo of their Forest Trail property is from their website.

The Richardson ISD school board on Monday approved the sale of land it owns at 9601 White Rock Trail in Lake Highlands. The contract price is $5.7 million.

The buyer, PSW Real Estate LLC, develops single-family, zero lot line homes. They created Verbena, near Royal Lane and Central Expressway, and The Grove at Lovers Lane, behind Discount Tire on Northwest Highway near Abrams. PSW had the property under contract before RISD entered the picture, but neighborhood opposition let them to pull out of the deal. Concerns included density, quality of materials and lack of parking.

In April of 2016, RISD bought the property, which included two office buildings, as part of a plan to reduce overcrowding at White Rock Elementary. Opposition by neighborhood groups and WRE parents began immediately after the purchase and increased as details of the plan were released. The site’s small footprint and concerns about traffic and safety on White Rock Trail led complaints. RISD abandoned plans to build a new school and voted instead to add on to WRE. The site has been on the market about 6 months.

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One sticking point during RISD’s quest to build were deed restrictions, pursued by area homeowners and adopted by the city council in 1978. Those restrictions list acceptable and prohibited uses for the land, and a school was not permitted.

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Dallas City Councilman Adam McGough says that, though single family homes are allowed, shared access is not. PSW will need the approval of the council.

“They will have some work to do to get buy-in from the surrounding communities,” McGough said.

If PSW’s plans are approved and the sale goes through, RISD will recoup the $4.5 million spent to purchase the property and the $1 million more it paid to raze the buildings, draw up plans and prepare to build. The district will even take in a tidy profit – $87,000.

A PSW development where homeowners have “shared access.”
The kitchen of PSW’s Villa Court development
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  • Guest

    There could of/should of been a brand new elementary school on that site, relieving the overcrowding at WRE. Instead, more homes and more kids ADDING to the population at WRE. Add in the new multi-family about to open in the Town Center, and you really have a more severe problem. Nice job!

  • Eric Holmes

    At a sale price of $5.7 million, I would expect that they will be in excess of $500,000 just based on that alone unfortunately.

  • ExAviory

    Look up PSW in Austin. The exceptions CC makes need to be wary for massive parking issues and quality of life issues when the density is filled beyond regular code Be warned your market values will feel pressure beyond due normal rates due to the exceptions you let in, others will come in thinking the exception is now the rule.

  • Lisa Jagmin Andrews

    and I would love it if they weren’t $500,000+. I would love to downsize but don’t want to upsize my house payment!

  • Rob Braun

    Do you know if this discussion on the WRT property will include improvements to
    the Walnut Hill/WRT intersection? There needs to be turn lanes in Sbound
    WRT like there are in the Nbound lanes at a minimum.

  • Kathlern

    LH could use some zero lot line newer homes for retirees and empty nesters that want to stay in the neighborhood but don’t want large home and yard upkeep.