Jerry Jones donates recent land investment to alma mater
by January 9, 2015 8:41 am 564 views
Dallas Cowboys owner Jerry Jones has donated a 254-acre real estate investment in south Fayetteville to the University of Arkansas, his alma mater.
The development known as South Pass was seized by Chambers Bank from the original developers in the summer of 2010. The South Pass Development company included John Nock, Richard Alexander, Steve Aust and Hank Broyles.
Jones paid $7.3 million for the land in December and then transferred the ownership to the UA through the Razorback Foundation once the deal closed Dec. 30. Property records indicate the South Pass Development group paid $8.25 million for the land at the market peak in late 2005.
Jones was made aware of the property through his brother-in-law, John Ed Chambers, who is also an owner and CEO of Danville-based Chambers Bank.