Houston Community College System, Southwest College, Alief Center
In January 2001, The Keystone Group, Inc., entered into a lease agreement Houston Community College system for an approximate 42,000 square foot facility to accommodate the needs of the College’s Alief Center. The project, which was delivered in August 2001, involved the acquisition and renovation of an existing structure as well as the construction of approximately 7,000 square feet of new space. Because of the expedited delivery schedule, the Center was available for the Fall 2001 semester.
In 2002, Keystone successfully negotiated a lease amendment with the college to convert the existing operating lease to a long-term capital lease.
- Acquisition and renovation of existing facility
- Construction of 7,000 square feet of new space
- Total 42,000 square feet of classroom and administrative space
- Expedited delivery schedule (5 months)
- Predetermined lease rate
- Subject to annual appropriations
- $1.00 purchase option at the end of the lease term