La Posada has purchased just over 24 acres from FICO but there are no firm plans yet for the land, CEO Joni Condit said.
The land is at the entrance to the community, on the northwestern corner of Continental Road and Park Centre Avenue, across from The Shoppes at La Posada. The acreage stretches from Park Centre to the Santa Cruz River, and north to the existing campus. The purchase expands La Posada to 124 acres; the retirement community was annexed into Sahuarita last year.
Until plans are made, La Posada is leasing the land back to FICO, which will continue to farm pecans on the property. La Posada will give FICO a year's notice if it wants to move forward with development, Condit said.
La Posada, which is currently building 17 single-family homes on its campus, has no specific plans for the property. Condit declined to disclose the purchase price but said it would be shared soon with residents.
La Posada is looking at building a cultural center/multipurpose auditorium, but Condit said it is not currently planned for the newly purchased land, and likely will be built near the center of the campus.