High Tech High at UNM Albuquerque will be off UNM's campus in the fall.
A site has been found for the school at 2500 Yale SE, said Robin Troup, director of the school, although the lease has not been signed yet.
"We decided the cost of being on campus was too much," she said.
The charter school will focus on math, science and technology and will have 90 students its first year.
It was going to be placed in portables on UNM land, but the cost of getting utilities to the building was too expensive, Troup said.
Troup said the building the school might lease is a 12,400-square-foot space behind the closed Rio Grande Yacht Club restaurant on Yale Boulevard.
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She said the building has enough room for the school's incoming freshman class. When it adds another 90 students in the second year, the space may be a little small, she said.
The one-year lease would be renewable for a second year.
She said students at the school will start their day at Johnson Center for physical education classes and be bused to the high school.
The deal, though not yet final, includes access to UNM media and research labs, libraries and Johnson Center for the high school students.
Transportation to UNM for those activities has not been determined yet.
"We may use UNM shuttle buses and walk to South Lot or city buses run along that route, or we many contract with a bus company," Troup said.
She said the UNM and city buses are more affordable than contracting buses.
Susan McKinsey, spokeswoman for UNM, said the University and the school are finalizing the agreement, including transportation issues.
"They just have to work out the logistics, and then the relationship will be wonderful," she said.
Troup said the school's off-campus location will not be a problem.
"It's easier if we're closer to campus, but we're still pretty close," Troup said.
Troup said eventually the goal is to get the school on campus.
She said the lease for the space on Yale will be signed in April.
High Tech High has 69 applicants to the school for the fall semester.