Texas-based IDEA Public Schools has purchased one of its existing school buildings for $16.5 million and bought a 31.6-acre tract of land near Harding Boulevard for an undisclosed sum.
IPS Innovation LLC bought the school building at 7800 Innovation Park Drive in a deal that was filed last week with the East Baton Rouge Clerk of Court’s Office. The seller was New Schools for Baton Rouge, a nonprofit that backs charter schools.
IDEA has operated a school at the Innovation Park site for two years and currently has 781 students in grades K through 4 and 6 through 8. The plan is to start construction on a high school at the site beginning in 2021.
IDEA said it bought the 73,000-square-foot Innovation Park building in a move to refinance its property and lower the monthly rent.
IPS Enterprises Inc. bought the 31.6-acre tract off Plank Road in a deal that was also filed last week. The seller was Maxco Development, a firm headed up by Howell Place Developer Richard Preis. The sale price was “$10, cash and other valuable consideration."
IDEA said the plan is to build its third campus on the site. More details will be announced in upcoming months.
IDEA also operates IDEA Bridge at 1500 N. Airway Drive, which has 1,069 students in grades K through 8. The company manages the Baton Rouge UP Charter School, which has 336 students in grades K through 5.