CASFS Blog & Forum

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Wednesday, July 01, 2009

Organic Farms as Subdivision Amenities

Increasingly, subdivisions, usually master-planned developments at which buyers buy home sites or raw land, have been treating farms as an amenity. “There are currently at least 200 projects that include agriculture as a key community component,” said Ed McMahon, a senior fellow with the Urban Land Institute. In 2001, investors in a stalled project with an agriculture component outside Boise, Idaho, recruited Frank Martin to take over their development. Mr. Martin had been a manager at Prairie Crossing, a subdivision built around a working farm in the Chicago suburb of Gray’s Lake. By 2008, the 1,756-acre Idaho development had repaid a $12 million loan from the financing arm of General Motors; realized a 61 percent premium on the sale of its sites, compared with similar parcels with no farm nearby; and claimed a $2.8 million pretax profit by selling 785 of 800 lots, while keeping 1,000 acres open. The success of the two developments proved the concept, and like-minded developers around the country are trying it on inactive farmland and even on formerly industrial land.
Full story here.

posted by CASFS 2006 @ 7:59 PM

1 Comments:

At 2:41 PM, Blogger GravyTrain said...

Hey, why don't you put all the folks living in that faculty housing site the university just put up on CASFS land, folks from the homes that now have the "amenity" of the CASFS farm view, to work on the CASFS farm! Just tell them that in order to preserve their new farm viewshed they'll have to get on their knees and weed and dig beds!

 

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