Investing in Land

It is about 800 miles from Round Rock, Texas (hard by Austin) and Avon, Colorado (as close to Vail) but the air the leaders of each city are breathing must be the same.  In recent days, each has stepped up its efforts to participate more fully — and thoughtfully — in planning for the future of development.  Long a product of the expertise of companies like Walton International, development is becoming a team sport.

In Avon, there is a new community development director and assistant town manager.  Here is how the new hire was described:

“We believe (her) experience will help Avon move forward with its long-term goals such as developing the east and west town centers, affordable housing and improving our overall land use and planning practices,” said (the) Town Manager.

In Round Rock, it is not just a focus on the people, but the plan to make development happen.  As they put it:

“The City of Round Rock in early 2009 began work on improving its land development processes. This effort is part of the City’s overall philosophy of continuous improvement, and builds on previous efforts to streamline the land development process.”

A recent story in the Calgary, Alberta, Canada Herald highlighted a subtle but significant shift in the approach one developer is taking to meet its needs and the needs of the market.  Even as signs of life in the housing market begin to surface, particularly in places like Texas, developers and land investment firms are open to new things.

The Herald story focused on Walton Development and Management, a unit of long-standing, raw land investment company, Walton International.  Both are based in Calgary.   Here is the nub of the story:

“‘This spring, we made the decision to essentially lower our lot pricing,’ says John Plastiris, president of the fledgling company under Walton International.

‘In part, it was because it was a new community and we wanted to achieve momentum and an increase in the northeast market share. It’s a value and price-driven market.’”

It is refreshing to see companies open to change in the face of changed circumstances.  Let’s keep an eye out for a trend.