I view a map too and your speculation is plausible. I think PHS, as are other campuses, is due a major upgrade or even replacement. Certain campuses, particularly AHHS, Poly, Tech and NS are architectural gems; not so much PHS.
Selling PHS to TCU could be a windfall for FWISD.
renamerusk, I just don't see FWISD selling the Paschal property to TCU as anything remotely possible at this point in time. FWISD is finishing some major additions to PHS right now, with more changes to come stemming from funding now authorized through the successful bond election. Furthermore, FWISD is too invested in the current Paschal campus to sell it to TCU, and there is little space to build a new high school in this part of town. Not to mention the fact that Paschal will continue to grow with new housing developments, particularly in the Tanglewood zone (not to mention the areas between 8th and 35W that also feed into Paschal and are ripe for gentrification).
Though in terms of other FWISD-owned properties in the area, TCU could try to purchase the Professional Development Center (PDC) on McCart. But I wouldn't see the PDC property becoming much more than a commuter parking lot if the School of Music gets a facility where the Sandage/Berry lot is now. As a TCU commuter student myself, the existing commuter lots are already jam-packed at peak class times, but it must be noted that the "commuter" lots are also shared with TCU faculty and staff as well. As the furthest commuter lot, Sandage is one of the few lots that doesn't get full at peak class times (along with the lots north of the football stadium, which are even further from the core "academic" area of campus).
I just don't see TCU's campus going east of Forest Park. If they are to expand the campus, I would feel that they would be better focusing on areas south of Berry so as to give TCU a greater north-south extent, as TCU is mainly oriented along an east-to-west axis at this point in time. Some of the newer privately-owned, off-campus student housing facilities are located south of Berry as well (Loft Vue, University House). Adding facilities on the south side of Berry just makes more sense than trying to expand east even more.
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