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Growing With the Crops, Nearby Property Values
Alec Applebaum, 7/1/2009
Website: http://www.nytimes.com/2009/07/01/business/energy-environment/01farm.html?emc=eta1
Bundoran Farm was highlighted in a July 1, 2009 of the New York Times in article written by Alec Applebaum. The article focused on how land owners and developers are working together to preserve farmland and provide valued amenities and life experiences for home buyers. Below are some excerpts for the article.
“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. ‘Open space improves the return for a developer,’ Mr. McMahon said. ‘We have 16,000 subdivisions around golf courses, where developers found they could charge a lot premium of 25 to 50 percent over comparable tract subdivision. But most people who live on golf courses do not play golf.’”
The article goes on to mention how “living with a farm can bring a buyer permanent views, wholesome activities for children, access to walking and riding trails and inclusion in an epicurean club.” For example, at Bundoran Farm people are able to purchase a lot ranging from 2 acres to nearly 100 acres, a still have the benefit of having access to over 2,000 acres of permanently protected land.
Grady Lewis, who recently moved into his house on Bundoran Farm with his wife Diane, explains in the how they were attracted to Bundoran Farm’s approach to preserving “rural quality”. “‘Beyond it being great to see 300 head of Angus scattered across the acres,’ Mr. Lewis said, ‘it’s a cash-flow issue.’” since revenue generated from the farm goes to the property owners’ association.
To see the entire article on line, go to http://www.nytimes.com/2009/07/01/business/energy-environment/01farm.html?_r=1&emc=eta1
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