Price Land Development Group Celebrates 5th Anniversary and Development of 931 Residential Lots Plus 69 Acres of Parks, Trails and Open Space
Albuquerque-based Price Land Development Group (Price) celebrates the company’s five-year anniversary of dedication to the development of hundreds of acres of New Mexico land for a diverse group of homebuyers. Since May 2017, Price has contributed significantly to healthy economic growth in the area while preserving the unmatched beauty of New Mexico.
During this time, Price delivered 931 total residential lots across 13 phases/communities, working with major builders, including Pulte Homes, DR Horton, Hakes Brothers, Abrazo Homes, Richmond American Homes and LGI. Development of 237 acres has led to a total of 300 homes now occupied.
“During a time when housing has never been more constrained, we’re pleased to be delivering 33% of the lots in our home market,” said Price Land Development Group founder and Albuquerque native Garret Price. “Price will continue with the delivery of additional homes and communities that respond to current local market demand with more than 2,000 future New Mexico homes currently in development.”
Additionally during the past five years, Price has developed 69 acres of parks, trails and open space in the communities of Colibri, Aspire, Trails, Laos Diamantes PH 1, Jemez Vista and High Range. These communities feature desirable amenities including neighborhood parks, picnic ramadas, basketball courts and dog parks.
Future development will see 1,111 lots delivered by Price and 1,170 lots by its partners for a total of 2,281 lots, all prime locations, with convenient access to Albuquerque and Santa Fe.
Additional accomplishment by Price during its first five years include:
525 acres entitled
437 acres purchased
Developed 271 acres of land
10 miles of roads paved
931 lots delivered to builders
300 new homes occupied
Managed more than $77 million in land development
Created hundreds of New Mexico jobs though partners and subcontractors
The number of lots delivered is quite significant at this point in time. As reported recently by the National Association of Home Builders, a recent survey showed 76% builders reporting that the overall supply of developed lots in their areas was low to very low. The article states this is an all-time record (by a wide margin) since they began collecting the information in the 1990s. The previous record was 65% in 2018.
“In addition to expanding into new asset classes, future Price development will continue to complement the desert southwest surroundings,” added Scott Steffen, Vice President of Land Planning and Entitlements for Price Land and Development Group. “We’ll continue to implement best practices, find win-win solutions in complex projects, and deliver best-in-class development for the benefit of our partners and future neighbors.”
To learn more about how Price Land Development Group continues to preserve the beauty of New Mexico while contributing to healthy economic growth, visit pricedevgroup.com