Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Alabama > Huntsville-Madison-Decatur area
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-09-2013, 07:34 PM
 
1,644 posts, read 3,034,580 times
Reputation: 926

Advertisements

I desperately want to move into some good apartments. I expect that it'll cost more than my mortgage. My only issue with apartments is they all have carpet. I don't do carpet. Filthy stuff.
Reply With Quote Quick reply to this message

 
Old 12-10-2013, 03:25 AM
 
Location: Huntsville, AL
1,420 posts, read 1,591,922 times
Reputation: 859
The Jones family is not selling the land. Members of the Jones family are the ones developing all the projects listed here.

================================================== =================
Huntsville Development News
Tuesday, November 5, 2013
Development Review- October 2013

2785 Carl T. Jones Dr. SE. Shell of a retail building for RBJ Bailey Plaza, LLC. This will be a small strip center anchored by Dunkin’ Donuts. Contractor: Joe Still Building. $1.1 Million.
-------------------------------------------------------------------
Huntsville Development News
Thursday, July 25, 2013
An Apartment Building Boom?

Legacy at Jones Farm
Units: 496
Status: Planned
-------------------------------------------------------------------
Huntsville Development News
Huntsville Development News
================================================== =================
RBJ Bailey Plaza LLC
"RBJ Bailey Plaza LLC was formed on 2012-04-26 in Alabama by PATTERSON, MICHAEL R"
RBJ Bailey Plaza LLC Alabama - PATTERSON, MICHAEL R - Business Profiles
================================================== =================
Brothers-in-law Raymond Jones Jr., Mark Yokley and Mike Patterson hope to start construction this summer on the 496-unit Legacy at Jones Farm. The 52-acre site backs up to Huntsville Mountain behind Kohl's and Terrame Day Spa."
-------------------------------------------------------------------
More than 650 new apartments planned for Jones Valley, Bridge Street Town Centre areas
May 15, 2013 at 11:43 AM
More than 650 new apartments planned for Jones Valley, Bridge Street Town Centre areas | al.com
================================================== =================
Jones family unveils plan for 'high end' shopping center on 126 acres across from Valley Bend in south Huntsville
November 13, 2013
Jones family unveils plan for 'high end' shopping center on 126 acres across from Valley Bend in south Huntsville | AL.com
================================================== =================
Index of /documents/Legacy at Jones Farm - Huntsville, AL

Index of /documents/Legacy at Jones Farm - Huntsville, AL
-------------------------------------------------------------------------------------------
Legacy at Jones Farm - Site Plans (2-11-13)
http://www.tdkconstruction.com/docum...IL%20PLANS.pdf
-------------------------------------------------------------------------------------------
Legacy at Jones Farm - Site Plans Revised (10-25-13)
http://www.tdkconstruction.com/docum...0-25-13%29.pdf
================================================== =================

Last edited by MisterEd51; 12-10-2013 at 03:50 AM..
Reply With Quote Quick reply to this message
 
Old 12-10-2013, 07:09 AM
 
13 posts, read 19,647 times
Reputation: 17
Quote:
Originally Posted by SamirD View Post
In the middle of a down economy too. I bet they'll kick themselves 10 years down the line when they've blown all the money.
@SamirD, I agree now is probably not the best time to sell real estate and in 10 years they will regret it. All things said, I would probably do the same thing the kids are doing and develop parcels to make money. I personally would like the esthetics to remain in Jones Valley but money talks.
Reply With Quote Quick reply to this message
 
Old 12-10-2013, 08:00 AM
 
3,465 posts, read 4,836,778 times
Reputation: 7026
Quote:
Originally Posted by RegaeBusRider View Post
It is apartments. Basically, the Jones heirs are dumping land. Expect explosive growth and development in the region from Cecil to 72 to monte sano. More to come...
I thought it was common knowledge that they aren't selling any of that land. Raymond Jones develops the land, builds the buildings and does long term leases with the businesses. Target doesn't even own their building in Valley Bend, they have a long term lease. Seems like it was originally a 20 year lease. Years down the road, they could then sell the developments or bulldoze them and have farm land again if the family desired.

Quote:
Originally Posted by SamirD View Post
In the middle of a down economy too. I bet they'll kick themselves 10 years down the line when they've blown all the money.
Land prices in the Huntsville area never slumped. They are stable and have actually increased. The only thing that sold at bargain prices during the hieght of the recession was residential developments where the developers went bankrupt. Louis Breland gobbled most of those up in 2009 and then built houses on the lots and sold them.
Reply With Quote Quick reply to this message
 
Old 12-10-2013, 11:00 AM
 
Location: Huntsville, AL
1,420 posts, read 1,591,922 times
Reputation: 859
Quote:
Originally Posted by dijkstra View Post
I thought it was common knowledge that they aren't selling any of that land. Raymond Jones develops the land, builds the buildings and does long term leases with the businesses. Target doesn't even own their building in Valley Bend, they have a long term lease. Seems like it was originally a 20 year lease. Years down the road, they could then sell the developments or bulldoze them and have farm land again if the family desired.
The Jones family did donate the land to Huntsville for Airport Road/Carl T Jones Drive. The catch was that Huntsville had to contract with the Jones family to actually build the road.
Reply With Quote Quick reply to this message
 
Old 12-10-2013, 12:05 PM
 
3,465 posts, read 4,836,778 times
Reputation: 7026
Quote:
Originally Posted by MisterEd51 View Post
The Jones family did donate the land to Huntsville for Airport Road/Carl T Jones Drive. The catch was that Huntsville had to contract with the Jones family to actually build the road.
Yes and I believe they also donated the land for the park along Aldridge Creek behind Dicks sporting goods.
Reply With Quote Quick reply to this message
 
Old 12-10-2013, 12:22 PM
 
13 posts, read 19,647 times
Reputation: 17
Let's just all hope they stop giving, selling, and developing their land. It is a Huntsville icon. I know several Jones Valley residents and they are worried of JV becoming another Madison.
Reply With Quote Quick reply to this message
 
Old 12-10-2013, 01:26 PM
 
1,268 posts, read 2,056,252 times
Reputation: 901
Quote:
Originally Posted by OutPerform View Post
Let's just all hope they stop giving, selling, and developing their land. It is a Huntsville icon. I know several Jones Valley residents and they are worried of JV becoming another Madison.
You could buy it from them and then you don't have to worry about that.
Reply With Quote Quick reply to this message
 
Old 12-10-2013, 02:16 PM
 
20 posts, read 17,472 times
Reputation: 10
Good one Maya. I wish I had enough to buy one acre.
Reply With Quote Quick reply to this message
 
Old 12-12-2013, 10:41 PM
 
Location: 60015
283 posts, read 434,520 times
Reputation: 137
Quote:
Originally Posted by CoreLysium View Post
I desperately want to move into some good apartments. I expect that it'll cost more than my mortgage. My only issue with apartments is they all have carpet. I don't do carpet. Filthy stuff.
Hardwoods are hard to find in Huntsville, but I know they do exist in some of the condos that end up being rented.
Quote:
Originally Posted by MisterEd51 View Post
The Jones family is not selling the land. Members of the Jones family are the ones developing all the projects listed here.
Ah, that makes more sense. Long-term income. Very good card to play in these times.
Quote:
Originally Posted by OutPerform View Post
@SamirD, I agree now is probably not the best time to sell real estate and in 10 years they will regret it. All things said, I would probably do the same thing the kids are doing and develop parcels to make money. I personally would like the esthetics to remain in Jones Valley but money talks.
Income in estate planning has to come from somewhere, especially if you have a lot of non-liquid assets like land. You don't want to sell the land, or you no longer have an asset. But land doesn't just generate cash at some interest rate like money in the bank will. In a down economy, it's foolish to sell the land. So what do you do? Get a loan, build on it, and whatever your tennants pay above your mortgage is income. Plus, you still own the land. And if it's a long term contract like 20 years, you've got steady income for a while. After 20 years, you own the thing, so you can sell it for 2-4x what it was worth 20 years ago (assuming that your development doesn't become blighted), and walk away with a wad of cash to either start again or just put it in the bank and enjoy the interest.
Quote:
Originally Posted by dijkstra View Post
Land prices in the Huntsville area never slumped. They are stable and have actually increased. The only thing that sold at bargain prices during the hieght of the recession was residential developments where the developers went bankrupt. Louis Breland gobbled most of those up in 2009 and then built houses on the lots and sold them.
I disagree. I know several pieces in my father's portfolio that don't agree with your statement. And as an investor, he was attempting to "buy low" and "sell high".
Quote:
Originally Posted by OutPerform View Post
I know several Jones Valley residents and they are worried of JV becoming another Madison.
Too late. It's already getting that feel.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Alabama > Huntsville-Madison-Decatur area
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top