Investing in Land

I came across a new website that might be of interest to readers of this one.  It is devoted to and called “Florida Land Development News.”

The site seeks “to bring you the news affecting real estate development from a professional perspective.”  A quick glance of the news wire section offers reports on the $536 million purchase of 73,000 acres of land in Everglades, Palm Beach County’s decision to remove the affordable housing requirement from development and statewide transportation planning.

Other markets could benefit by creating such portals.

For all the noise created by the Federal Government’s efforts to jump start the economy (Cash for Clunkers, anyone?), it appears that, like politics, all “green shoots” are local.

One need look no further than the ocean side of Florida.  Here is bit of a story in The News-Journal, “The Independent Voice of Volusia and Flagler Counties” in Florida:  “Representatives of a company that owns 59,000 acres of land in southern Volusia and northern Brevard counties have worked behind the scenes for more than a year to refine a long-term development plan for the property.”

The company is the Miami Corporation, a near 100-year old land investment company that started out selling farm implements.  You would have to guess they know their land.  Add it to the list of companies like Walton International, now beginning to move to fill the front of the development pipeline.

As for the Florida deal, it reflects the growing support from developers for”…sustainable growth standards, such as limiting development on the bulk of the land until at least 2025, requiring water and energy conservation, and tying job creation to housing construction.”

Let’s keep an eye on that.