Arcadia Land Company logo
Newsletter
October 2008 
In This Issue
Woodmont sells strong in tough market
Inquirer profiles new Arcadia services division
New edition of Last Harvest
Quick Links
Join Our Mailing List
Future Speaking Engagements
 

 
"Housing Market Update" 
Urban
Land Institute
Nov 21 - Villanova Univ. 
 
Wynnewood Civic Association
Nov 14 - All Saints Church, Wynnewood
 
Willow Grove Chamber of Commerce
Greetings! 
 
Welcome to the inaugural Arcadia Land Company Newsletter!
 
We intend to use this Newsletter as a way of sharing best practices, provoking debate, and building a network of likeminded real estate professionals who are dedicated to the responsible and profitable development of land.
 
We also hope you'll enjoy hearing about the continuing progress of our "walkable neighborhoods" and the expanding array of consulting services we now offer to clients.
 
Please let us know what you think!
 
Sincerely,
 
JMD signature
Jason Duckworth
Vice President
Differentiated TND product, quality execution drive strong sales at Woodmont
 
WoodmontAs of the end of August 2008, Woodmont's builders signed 20 new contracts with homebuyers year to date, staying even with the same period in 2007.  Prices in 2008 were reasonably steady with contract prices ranging from the mid-$400,000s to over $900,000. 
 
What explains this strong performance in an otherwise dreary housing market?
 
First, traditional neighborhood developments (TNDs) like Woodmont are a relatively underserved product type.  Whereas there are at least ___ conventional communities actively marketing now in Montgomery County, there is only one TND--Woodmont.
 
Second, now that Woodmont has almost reached 75% of completion, the streets are filling in, the coffee shop is open, and most of the pocket parks are established.  In fact, with every new home the community gets better--something that is rarely true for conventional communities.  Our design guidelines have generated the traditional "front porch" streetscapes that make this type of community special and desirable.  In fact, the walkability and neighborliness of Woodmont are now palpable. 
 
Third, Woodmont is located in highly supply-constrained Huntingdon Valley, an area with great natural beauty and a nationally ranked public school system.  Moreover, with high gas prices raising the real cost of living on large exurban lots, living in close-in Lower Moreland means less expense for fill-ups and a lifestyle more in keeping with America's growing environmental sensibilities.
 
 
Philadelphia Inquirer profiles new Arcadia Development Services
 
Arcadia's president and founder, W. Joseph Duckworth, was featured on the front page of the Philadelphia Inquirer's business section on October 3, 2008 for leading Arcadia's new foray into development services.  
 
Our new Arcadia Development Services group (ADS) will offer Arcadia's renowed expertise in smart growth, land development, and real estate analysis and strategy as a consulting service to clients. 

 
"The housing downturn has put banks, equity funders, and other parties without residential development expertise into a tough ownership position--trying to determine the best strategy forward in a highly uncertain market," Joe says.  "We can help these owners recover the greatest value from these troubled projects through project repositioning, entitlement preservation, and disciplined improvement installation."
Read the story.
LH soft coverNew edition of
Last Harvest features Arcadia and New Daleville
 
Witold Rybczynski's widely acclaimed book, Last Harvest (Scribner 2008), was recently published in paperback.  The book chronicles the story of New Daleville, an Arcadia TND of 125 homes in Chester County, Pennsylvania.
 
For those inside the business, it's a rare sober portrayal of the complex and onerous land entitlement process.  For those outside the business, it's no less than a revelation about how our nation regulates the creation of new home communities.  (And yes, we confess, it's all true!)
 
With illuminating historical chapters that set New Daleville in its social context, Last Harvest, is a must read for anyone involved or interested in the residential land development process.