Collin Central Appraisal Distict Land Values 2006 Notice

Below is a list of the notified values of all the tracts that make up the Adriatica Development. The smaller tracts (1 to 2 acres) range in value from $548,000 to $733,00 an acre. The largest tract which is 13 acres is appraised at $157,000 an acre. I found it interesting that the lots directly across the street, which is where Panda Express and Compass Bank are being built are appraised at $800,000 an acre. In my past I have worked at a central appraisal district and typically these notified values are initially sent out extremely high in order to get the landowners to disclose their purchase prices. The collective value of Adriataica is about $6,500,000 which in my opinion may be in line with Mr. Blackard's purchase price, or even possibly low. It will be interesting to see what the settled values and up at for this year. I have a feeling that the Panda Express and Compass land values are extremely high and that they probably paid around $450,000 to $500,000 for those tracts.



CCAD Land
Acct # Value Acres Acre Price PSF

2582848 Adriatica 1,312,425 2 656,213 15.06
2582847 Adriatica 632,927 1 632,927 14.53
2581537 Adriatica 548,856 1 548,856 12.60
2581536 Adriatica 1,466,230 2 733,115 16.83
2582846 Adriatica 2,043,726 13 157,210 3.61



1965624 Compass
2563386 Panda 888,624 1.02 871,200 20.00
2563387 Compass 871,200 1 871,200 20.00