Land Prices on the Rise

Mayson Family Land
The number of firms interested in developing projects in the Metro area have caused land prices to increase to levels we haven’t seen since 2007. This has caused some anxiety, as we all remember how those 2007 levels turned out for us. But most agree that the market is in the early stages of its recovery and has shown very strong fundamentals over the past few years. It’s becoming more difficult for developers to get control of desirable parcels of land because every developer wants to be behind “the next Avalon.” Mixed-use projects are all the rage right now and land owners are well aware of this fact, therefore they are making sure to get the most they can for their land. One of the land parcels drawing the most attention from developers is The Mayson Family land in Central Perimeter; the family has listed more than 70 acres, including Glenridge Hall, on the market. Most speculate this could be one of the largest development opportunities currently available.

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