While reporting a related story last week, some interesting information about plans for the redevelopment of the 5-block Burns Bottom area emerged.
A developer, who had the project under contract for approximately seven months, backed out at least partially due to rising construction costs.
In the course of our reporting, we did get a glimpse into what that developer and the CRA had in mind for the property — homes in the $350,000-$400,000 range, which is roughly twice as high as the Lowndes median home price of $187,000.
Rising construction costs were pushing the price into the $400,000-$450,000 range.
Even before the rising costs, these homes would be considered upscale for Columbus.
It is evident that a big part of the strategy is Aluminum Dynamics, which plans to create 1,000 new jobs with an average salary of roughly $100,000. Given that the proximity of the aluminum plant to Columbus and Starkville is roughly the same, where these employees land relies on what they value most.
Two of the most important considerations for any business are knowing who you are and knowing your market.
Knowing who you are means making an honest assessment of your strengths and weaknesses. What can you deliver? What is beyond your capacity? Potential home buyers will be weighing Columbus’ and Starkville’s strengths.
Likewise, knowing your market means knowing your prospective customer.
Success in any business means doing your homework — or in this case — allowing an expert to do your homework.
The CRA has a resource we believe it should rely on to a much greater extent than it has to date. Over the past 20 years, The Golden Triangle Development LINK has developed a system for accumulating exhaustive data, focusing heavily on what big companies such as PACCAR, Steel Dynamics, Yokohama and now, Aluminum Dynamics, value.
The LINK makes decisions based on measurable data, not on feelings.
Among other things, they measure school achievement, access to health care and where prospective employees will come from and the family size of prospective employees.
If employees of area industries are the target buyers for Burns Bottom houses, no one knows those customers as well as the LINK.
We know the CRA has solicited the advice of the LINK from time to time on various issues. Now, at this critical juncture, capitalizing on the LINK’s wealth of information may help the CRA as it reassesses the target size and price of its planned homes.
The CRA has one shot to get it right. Making a wise choice relies on having the kind of detailed information the LINK specializes in.
The Dispatch Editorial Board is made up of publisher Peter Imes, columnist Slim Smith, managing editor Zack Plair and senior newsroom staff.
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Quality, in-depth journalism is essential to a healthy community. The Dispatch brings you the most complete reporting and insightful commentary in the Golden Triangle, but we need your help to continue our efforts. In the past week, our reporters have posted 35 articles to cdispatch.com. Please consider subscribing to our website for only $2.30 per week to help support local journalism and our community.
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