AMARILLO, TX (KFDA) - Wide open land full of opportunity is abundant in northeast Amarillo.
For one development company, the gears are already turning for the future of that region.
"An asset for Amarillo is our airport and the runway we have out there," said James Wester with the Prana Development Group.
While many big companies like Tyson Foods and the Pantex Plant have made northeast Amarillo their home, there are few actual homes available on that side of town for employees.
"When you think about the number of people that work out in that part of Amarillo," said Wester, "we believe there's a need for housing in that area."
A large chunk of that available land belongs to Amarillo College's East Campus.
Prana Development Group is already acquiring nearly 780 acres of that land for commercial development.
"We've gotten some businesses to come in and lease some of those properties out there," said Wester. "Our hope is to generate enough activity because activity usually breeds activity.
Now, Prana wants to buy an additional 136 acres of land for much-needed residential development in the budding business area.
Amarillo College's Board of Regents is meeting Tuesday evening to consider that possible amendment to Prana's sales agreement.
According to Steve Smith, Vice President of Business Affairs with Amarillo College, while the agreement has not yet been finalized, their current agreement with Prana sold the land at five times the appraisal value.
"It's not so much how cheaply can we buy it," said Wester. "It's what can we take and how can we develop that will not only benefit us, obviously, but also benefit the college."
Amarillo College says proceeds from the land sale would, in turn, help further develop the facilities, equipment, and programs with the East Campus, paving the way for what could be a win-win situation for the students of Amarillo College and future residents of northeast Amarillo.