When Nic Parish and Saunders Ramsey joined forces to purchase and develop Burns Bottom last August, there was an emotional component in the decision.
Both Parish and Ramsey grew up in the Golden Triangle. Parish said he and his brother play soccer at the adjacent Roger Short Soccer Complex. The project (called Parkview) will emphasize creating homes where neighbors know and interact with each other, much like it is in Southside, where he is raising his own family. The development represents the largest residential development in the city limits in decades.
Its announcement was an infusion of optimism for a city that desperately needed something to feel good about.
Shortly before Parish and Ramsey put the Burns Bottom property under contract, Taylor Thomas III arrived in Columbus from Utah with his eyes on Columbus real estate.
There was nothing emotional about it for Thomas. It was a decision based on analytics for the Oklahoma native who has spent his career buying, refurbishing and selling mostly distressed properties.
After working with a corporate house-flipping operation for years, Taylor, his wife Rebecca and their three young children began looking for somewhere they could call home in a city that would allow Taylor to succeed as an independent house-flipper.
The Taylors carefully studied markets that could work both as a home and as a place where residential real estate values were underpriced. Starting with 50 cities, they ultimately chose Columbus as the ideal city to raise their children and grow their business.
With no connection to Columbus, the Taylors’ decision only affirms what Parish and Ramsey realized: Columbus is a city where real estate is undervalued at a time when the demand for housing is on the rise.
As new employees in Golden Triangle industries are looking for homes, Columbus is a far better value than Starkville.
In 2000, the median price for a home in Columbus was $96,000. The median price in Starkville was $87,000.
Today, the median price for a Columbus home is $207,000 compared to $307,000 in Starkville.
Taylor and the Parish-Ramsey partnership both realized that Columbus is a very, very attractive real estate market. That affordability gives Columbus a clear advantage in the years to come.
These developers are betting on Columbus.
It’s been a long time since that was the prevailing mood.
It puts a little pep in our step to know that.
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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