US developers take lead on school construction

Los Angeles

FIVEPOINT Communities Management Inc is already constructing a school at its Great Park Neighbourhoods project in Irvine, California, for 1,000 elementary and middle school students even as it's still building the first 700 homes.

"We build the schools ahead of time," said Emile Haddad, chief executive officer of Aliso Viejo, California-based FivePoint, which has permits for about 10,000 homes at Great Park. "That way we always have them ready."

Local schools, along with parks and recreation facilities, have long been draws for buyers in new communities. N…