Residential land development is a local endeavor. Accordingly, Columnar’s in-market team members are its most valuable asset. Columnar is committed to building on existing talent in our target geographic markets to continuously and competitively position itself to uncover uncommon opportunities. This commitment entails bringing together well-integrated teams including engineers, land planners, attorneys, and environmental consultants with hard-earned local experience that are capable of efficiently sourcing, planning, and executing residential land investment and development projects.
Columnar recognizes that each market requires the presence of an established, locally-based land professional extensively versed in the entitlement and broader development environment, both at municipal and regional levels. Columnar drives growth through the investment in local talent first rather than leading through acquisition from afar. With the critical understanding that residential land development is a local game requiring seasoned local professionals, Columnar will thoughtfully and patiently expand its geographic platform with proven development teams.
Beyond Columnar’s commitment to invest and develop “locally”, the organization is led by a team that has endured eight real estate cycles combined. Columnar understands the perils of debt and the value in prioritizing capital preservation over rapid growth. With significant family investment alongside our investors, and a strong bent towards a “protect then grow” investment mentality, we take a long view when analyzing opportunities and position each project to weather even the most severe cyclical downturn. For that reason our patience will often land us on the sideline when competitors so often press aggressively forward.
While several geographic market areas possess attractive investment attributes, Columnar benefits from a focused acquisition initiative in markets that couple the following characteristics:
- High growth regions fueled by strong and sustainable underlying economies (job growth) – Jobs drive demand for new homes. MSAs that rate favorably in unemployment rate, job growth, income growth, median house hold income, and cost of living reliably indicate economic health, job market vitality, and future housing demand.
- Supply constrained development environments – Geographic areas constrained by limited availability of developable land, arduous entitlement environments (politically challenging), and difficult physical development conditions lend the greatest opportunity to create a competitive advantage through development and acquisition of uncommon skill and expertise.