Paper lots

Paper lots are created when a company has no intention to actually do any building, but merely takes care of rezoning and other legal and procedural technicalities to subdivide land into lots and sell the lots to homebuilding companies.

According to the Willow Springs Planned Area Development, Anam has no intention of doing any of the actual building in their Willow Springs development.  Instead, they have hired The Remington Group to create and sell "paper lots" for their land.

The web page of a fellow named Jeff Woolson, who markets of golf-related properties provides an example of how paper lots are marketed. 

The following is a copy of a snippet of  Woolson's web page as of May 7, 2001.

Take a look at the second entry on the page -- the one titled, "An 18-hole championship length golf course, located near Yosemite" and note that this property features "218 paper lots" (emphasis supplied):
 



Oak Valley is located approximately 80 minutes outside of Seoul, Korea and is a luxury golf resort with 36 holes of R.T. Jones Jr. designed golf, 547 condominiums, and many other amenities on 2,200 acres. This is a joint venture opportunity to build 788 additional units, another golf course and ski resort.

Asking price is: Submit Offer.

An 18-hole championship length golf course located near Yosemite National Park in Madera County, California and features 41 completed lots, 218 paper lots and a 54-site recreational vehicle park with full hook ups.

Asking price is: Submit Offer.
Woolson's web page may be found here: http://www.cbgolfproperties.com/jwlistings.html

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email:mekazda@mindspring.com