In the 1Q21 issue of the Launch Report you will find Land Advisors Organization’s residential land market overview for 18 markets; a check list of 25 potential land mines to avoid during a frothy real estate market; the tangled mess of California attempting to add 3.5 million homes to the state’s housing stock and, the introduction of a new non-recourse, long term (30 year), tax exempt and taxable bond vehicle that requires no local jurisdictional approval that can be used to construct both public and private infrastructure.

Launch Report

Kind Regards,

Carter Froelich, CPA

RCLCO Real Estate Advisors (“RCLCO”), along with Launch Development Finance Advisors, have updated their listing for year ended 2020 related to how the 50 Top-Selling Master Planned Communities in the United States are financing their infrastructure. For the updated list, click on the link below.

Top-Selling Master Planned Communities

For more information regarding market-related conditions behind the success of top-selling projects, contact RCLCO’s Gregg Logan or Karl Pischke glogan@rclco.com or kpischke@rclco.com respectively.

For more information regarding public financing structures, contact Launch’s Pam Giss or Carter Froelich pamelag@launch-dfa.com or carter@launch-dfa.com respectively.

In this quarter’s Launch Report we are excited to provide an interview with Mark Morse and IV Chandler of the Villages Land Company related to the success factors that have made The Villages the top selling master planned community for 14 of the last 20 years.

You will also find the 2020 Year End RCLCO Real Estate Advisors and Launch’s Top 50 Selling Master Planned Communities Financing Mechanisms related to how these top selling communities are financing their infrastructure.

Last but not least, we outline an issue we are noticing around the country that could cost land developers and builders hundreds of millions of dollars.

Enjoy!

Sincerely,
Carter Froelich, CPA

In this quarter’s issue of The Launch Report we have dedicated the entire issue to an interview with Fred Balda and Elaine Ford of Hillwood Communities on the topic of creating community within master planned communities.  I think that you will find the information and insights provided by Mr. Balda and Ms. Ford invaluable.

We have also included the Mid-year RCLCO Real Estate Advisors and Launch Development Finance Advisors Top Selling Master Planned Communities Infrastructure Financing Mechanisms chart outlining how the top selling master planned communities are financing their infrastructure.

Best wishes to you and yours as we move into the holiday season.

Sincerely,

Carter Froelich

Sunstone (Phases I & II)
City of Las Vegas, Nevada
$18,600,000
October 20, 2020

Yield: 4.16%
Maximum Term: 29.5 years
Value-to-Lien Ratio: 4.29 to 1
Average Assessment Per Unit: $11,171
Average Assessment Lien Per Assessable Acre: $80,834
Underwriter: Stifel Nicolaus

Purpose: To reimburse the developer (an affiliate of Lennar Homes, Shea Homes and Woodside Homes) for the costs of regional roadway, water and sewer improvements related to the development of the Sunstone master planned community located in Las Vegas, Nevada.

For more information or how we may assist in the financing of public improvements related to your project, contact Carter Froelich, CPA at 1-855-970-0003 ex. 4355 or email at carter@launch-dfa.com.

We are happy to present the Launch Report for the second quarter of 2020.

In this issue, Randall Lewis of the Lewis Group of Companies, provides observations on the linchpins of successful master planned community development.

In addition to the Land Advisor Organization’s Markets at a Glance, the Launch Report contains articles related to:

  • Financing Infrastructure using Builder Districts™;
  • A comparison of California’s SCIP and BOLD programs;
  • Paying for Growth in Idaho; and
  • Double Barrel Texas Public Improvement District Financing.

The Launch Report – 2Q 2020

We trust that you will enjoy this quarter’s issue of the Launch Report.

Sincerely,

Carter Froelich

In this issue of The Launch Report™ you’ll find an article by Tripp Davenport and Robert Rivera of FMSBonds; the premier Public Improvement District (“PID”) underwriters in the state of Texas, on the advantages of using PID’s to finance public improvements.

Launch Development Finance Advisors and RCLCO Real Estate Advisors  (“RCLCO”) provide insight on how the top 15 selling  master planned communities as identified RCLCO’s year end 2019 survey are financing their infrastructure.

Additionally, you’ll find articles related to: The Success Manual for Uncertain Times; Dispelling the Myths of Arizona Community Facilities Districts; Infrastructure Costs Post Coronavirus; Recent Texas Legislative Changes, as well as information on the Boise Housing Market.

Lastly, we provide Land Advisors Organization’s snapshots of the 4Q19’s housing statistics for selected markets.

I hope that you enjoy this quarter’s issue.

Sincerely,
Carter Froelich

In this quarter’s publication of the Launch Report™ you will find articles and information related to:
  • Markets at a Glance – Land Advisors Organization’s residential indexes for selected markets across the US.
  • Guest Corner – An article by Hal Guggolz and Josh Cameron of the Land Advisors Austin, Texas office providing insight into what is happening in Austin’s exploding residential land market.
  • RCLCO / Launch – Financing Matrix of the Top 50 Selling Master Planned Communities.
  • California Level 1 School Fee Increase
  • Proposed CFD Law Changes in Arizona
  • SB 330 – California’s Housing Crisis Act of 2019 with a detailed SB330 outline provided by John Condas of Allen Matkins.

I trust that you will enjoy this quarter’s publication!

Sincerely,

Carter Froelich
Managing Principal

Before we outline what is included in this quarter’s Launch Report™, we are happy  to announce that Launch Development Finance Advisors has merged with Land Advisors Organization (www.landadvisors.com).

The combination with Land Advisors, expands Launch’s geographic reach and provides the critical component of infrastructure financing to a national organization that can truly provide an “end-to-end solution” for investors, owners and consumers of land.

In this quarter’s Launch Report our Guest Corner author is Eric Higuchi, the Principal of Qtative. Eric has a provided a great article in relation to strategic planning as it relates to land disposition.

Also in this issue you will find special district financing review related to the Top 15 selling master planned communities as reported by RCLCO (www.rclco.com).

Other articles include, the importance of Reimbursement Agreements related to SID financings in Nevada in addition to a Developer’s Continuing Disclosure Obligations.

Naturally, we have included third quarter market information for all of the markets in which Launch and Land Advisors provide services.

Sincerely,
Carter Froelich, CPA
Managing Principal

Launch advisors have just completed a financial diagnostic into the RCLCO Real Estate Advisor’s Midyear 2019 Top Selling Master Plan Communities Report in order to estimate the amount of net bond proceeds being generated by special district bonds for the top 15 selling master planned communities.

On average, the top 15 communities are generating net proceeds ranging between $2,900 to $135,000 per unit with an average of $27,000. Total property taxes as a percentage of home price including special district taxes is approximately 1.64%. Click on the link below to see the full report.

Midyear 2019 Top Selling Master Plan Communities Report

Should you care to discuss our findings or how special district financing may benefit your project, contact Carter Froelich at carter@launch-dfa.com