Index Investment Group has closed on a 10-acre parcel in the Tuttle Royale development on Southern Blvd in Royal Palm Beach that is slated to host a new K-12 school that would support up to 1,500 students. Index is currently working to identify an operator to run the school.
ROYAL PALM BEACH, Fla., May 26, 2022 /PRNewswire-PRWeb/ -- Index Investment Group has closed on a 10-acre parcel in the Tuttle Royale development on Southern Blvd in Royal Palm Beach that is slated to host a new K-12 school that would support up to 1,500 students. Index is currently working to identify an operator to run the school.
Index Investment Group paid $6 Million for the land and the total development cost is estimated to be around $25 Million which would include a campus with classrooms, cafetorium and gymnasium at a total square footage of around 90,000 SF and designed with a high level of security in mind. The development is anticipated to commence within six months with an expected opening by July 2024 for the new school year. Index has identified that there are numerous growing and marginalized communities that have an inherent need for quality education access within proximity of where they reside. Index is proud to help support the expansion of education availability across Florida.
"After seeing the great influx of people moving to Florida, we have identified that there is a general lack of schools available to growing communities, it is a paramount necessity for children to have access to quality education and we are investing directly in the Florida education system" said Bjarne Borg, CEO and Executive Chairman of Index Investment Group. "We are aligning ourselves with leaders in the education industry to develop a school to service the community's most fundamental needs."
Index has made numerous significant investments in multi-family rental communities, industrial/logistics and commercial facilities as well as hospitality properties along the East Coast of the United States. The Jupiter-based real estate investment company has ongoing and completed twenty-five developments throughout North America since 2011, including nearly 3 million square feet of commercial-industrial properties in the Upstate New York market.
About Index Investment Group
Index Investment Group is a dynamic real estate investment group based in Jupiter, Florida that has major investment initiatives throughout North America including apartment communities, industrial/logistics, office, hospitality, and senior living communities. Index Investment Group develops intelligently designed properties throughout the East Coast of United States with a focus on Florida and contributes to the community through valuable and meaningful investments. For more information about Index Investment Group, visit http://www.indexinvest.com.
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Media Contact
Joacim Borg, Index Investment Group, +1 561 571 0367, [email protected]
SOURCE Index Investment Group
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