The school will be located off Burlington Mills Road near U.S. Highway 401.
The town of Rolesville will help pay some of the costs.
The deal comes seven months after commissioners refused to approve a deal sought by Wake County school system officials. The district wanted to purchase 45 acres off Burlington Mills Road for $3.5 million, or about $75,000 an acre, but independent appraisals valued the land at $48,000 to $64,000 an acre.
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