DENVER (CBS4) – The Denver Public Schools is showing off its latest purchase — the future home of two charter schools.

The school district bought Denver Lutheran High School with bond money. The new campus in southwest Denver will house a new West Denver Prep High School.

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West Denver Prep Middle School will also move there from Harvey Park. The new campus will open during the 2012-2013 school year.

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“We’re especially excited to find a permanent home so close to our original campus where we were for the last several years and to be able to continue that with a smooth transition for our families and students,” said Josh Smith, West Denver Prep Principal.

DPS says since voters approved the bond program in 2008, its building projects have contributed $1 billion to the local economy.

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The district also says the bond program is $90 million under budget.