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Feb
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| Subject: |
Lake Martin Article
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Date:
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6/2/2005 2:49:56 PM
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A relative just emailed me a scanned copy of subject article. The author of the article is a Mr. Jim Plott and it is published in the June 2005 issue of the "Alabama Living" magazine. The article (entitled Lake Martin) presents a lot of the information that we have been discussing recently on the Forum about the discovery of Lake Martin by people from all across the US, and that Lake Martin is no longer the hidden Lake or big secret. I do not have the URL, or I would of attached the article. It adds to the speculation/fact that prices are booming for Lake Martin property. Even mentions one owner that sounds like the Forum's alias motorman??? Could it be?
Hope others can read the article and enjoy as I did.
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| Name: |
Maverick
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| Subject: |
Lake Martin Article - Link
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Date:
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6/2/2005 2:57:40 PM
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URL: http://www.alabamaliving.com/articles/index.cfm?DocID=1136
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| Name: |
noagenda
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| Subject: |
Link -not working
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Date:
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6/2/2005 3:46:11 PM
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| Name: |
Maverick
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| Subject: |
Works Fine For Me Here is URL
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Date:
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6/2/2005 4:25:51 PM
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http://www.alabamaliving.com/articles/index.cfm?DocID=1136
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| Name: |
noagenda
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| Subject: |
Works Fine For Me Here is URL
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Date:
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6/2/2005 5:08:58 PM
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Thanks!
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| Name: |
MotorMan
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| Subject: |
Lake Martin Article
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Date:
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6/3/2005 10:15:08 PM
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I moved to Florida, then here. I would never give an interview that would put more people on the lake. I would rather give out the name of my favorite clearning service.
URL: Lake Martin Living
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| Name: |
MotorMan
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| Subject: |
here is theLake Martin Article
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Date:
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6/3/2005 10:38:26 PM
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By: Jim Plott
Dave Heinzen is no stranger to water. He grew up in Wisconsin next door to Minnesota – the land of 10,000 lakes – and for a while he made his home on Lake Lanier northeast of Atlanta. Yet, when it came time to retire, Heinzen cast his anchor on the shores of Lake Martin.
“If anybody comes here and sees what this lake is like, they’re going to want to be here. There is no place like this,” says Heinzen, who built his lake home about 10 years ago.
He has plenty of company. The 44,000-acre lake in south-central Alabama has about 22,000 residents on or adjacent to the lake and more waiting in line. “We tell people if you don’t want to sell your lake home, don’t put it on the market,” says Jimmy Huett, a Realtor at Lake Breeze Realty. “Just about anything you’ve got will sell.”
Sprawled across Coosa, Elmore and Tallapoosa counties like a huge glimmering Rorschach pattern, Lake Martin was once dubbed the South’s best kept secret.
Recently, though, it has had its cover blown by national publications including the Wall Street Journal, Fortune and Kiplingers Personal Finance magazine, all of which labeled it an ideal and affordable area for retirees and people seeking second homes. Built in the mid-1920s, the lake for years was deemed by local residents as fit only for mosquitoes and moonshiners. Within the last two decades small cabins, which started springing up after World War II, began to give way to upscale housing and gated communities. The lake’s allure in recent years has extended beyond the Montgomery-Birmingham-Atlanta triangle. Some residents, who have no plans to abandon their lake homes, say it’s not unusual to receive telephone calls from people as far away as California and Nevada seeking to buy to their property site unseen.
All that interest has provided a ladder for property values to climb. Russell Lands Inc., which is one of the major players in lake development, has seen land prices increase four or five times within a year. At The Ridge, one of Russell Land’s latest developments, a lot and house that a year ago sold for $850,000 now has a $1.2 million price tag.
Yet, that hasn’t discouraged buyers. Russell Lands, which owns 300 of the lake’s 750 miles of shoreline, recently sold $14 million in lots and houses in its Glynmere at Willow Point subdivision within two hours, says Hunter “Blue” Vardaman, Russell manager of public relations and community affairs.
“Our dilemma is not selling residential property,” says Vardaman. “It is a lack of inventory. As fast as we develop lots, they are being sold and homes are being built.”
Even newer developments away from the water are drawing buyers, Vardaman says. “People are interested in being part of the community. It doesn’t really matter if they live directly on the lake just as long as they have access to the lake,” Vardaman says.
While there is no doubt that Russell Lands can sell property as quickly as it develops it, Vardaman says the company intends to live by a hand-me-down commitment from Benjamin Russell, founder of Russell Corp., to ensure proper development.
“We want something that’s going to be in the best interest of the lake not just now, but 20 or 30 years from now,” Vardaman says. “Russell Lands feels so strongly about what’s the best way to continue development that we’re in the process of doing a national search for a long-range planner to keep the lake pristine.”
Heinzen is convinced that lake residents and companies with financial interests in the lake will ensure the lake doesn’t fall victim to its own popularity. “Many people who have moved here have seen what has happened at other lakes and I would say they are even more protective of this lake than some of the natives,” Heinzen says.
That doesn’t mean there won’t be problems. Many lake residents contend some type of regulations may eventually be necessary. The lake, which is a part of the Tallapoosa River basin, also figures prominently in the “water wars” among Alabama, Georgia and Florida over the sharing of water from rivers and tributaries that flow through the three states.
Bob Dixon says he has never regretted his decision to move to the lake three years ago.
“We had our chance of going anywhere we wanted,” Dixon says. “We wanted to come back to Lake Martin. This is absolutely the best place to come back to – the lake, the lifestyle, the community and the people.”
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| Name: |
Feb
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| Subject: |
Lake Martin Article
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Date:
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6/3/2005 11:44:07 PM
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Just a coincidence MotorMan. Got at least two of you out of Wisconsin on the Lake. Thanks for posting the article in your second post further down in the thread for others to read.
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| Name: |
greycove
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| Subject: |
I get the publication..
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Date:
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6/6/2005 2:39:03 PM
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Was surprised to learn that Russel Lands owns 300 of the 750 miles of shoreland on Lake Martin. Had not idea their holdings were that large.
Does anyone know if their holdings are all around the lake or concentrated in a certain area?
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| Name: |
SBsigmapi
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| Subject: |
I get the publication..
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Date:
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6/6/2005 3:37:55 PM
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Their holdings are more concentrated in areas where they have subdivisions, but they have land all over the lake. Its easy to find out which land is theirs and which land is APC's. Just set up camp on the piece of land in question---whichever company kicks you off of the land is the owner.
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| Name: |
roswellric
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| Subject: |
Really?
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Date:
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6/6/2005 8:49:55 PM
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You've got to be kidding.....
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| Name: |
LifeTime Laker
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| Subject: |
I get the publication..
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Date:
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6/7/2005 8:03:53 AM
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I too was a little surprised by the 300 figure. That has to include land already developed and sold, which is not really 'controlled' by Russell anymore. But even at that the 300 figure is scary. I would bet that this is the only lake in the country that has that high a percentage of waterfront contolled by one indivual/entity.
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| Name: |
roswellric
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| Subject: |
For a perspective..
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Date:
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6/7/2005 9:17:40 AM
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The number may be larger than 300... There are pretty much only 2 landowners of the lake....Russell and AL Power. There are other power company lakes that are pretty much the same way. Duke Power owns most of Keowee in SC for example.
That's why any surge in demand produces spectacular rises in prices like we are having now. The supply is inelastic. Similar to housing prices in California where regulations restrict rapid response in levels of housing supply rather than the developers desire or ability.
On the other hand you get responsible and very high quality development because the developers balance sheet depends on it for one and fortunately, I believe Ben Russell is committed to the community and leaving behind a legacy on the lake.
From what I have seen Russell pours money back into the community although he gets little credit for it because he doesn't have the oversized ego to constantly promote it.
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| Name: |
SBsigmapi
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| Subject: |
For a perspective..
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Date:
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6/7/2005 10:38:50 AM
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Does sending hundreds (possibly thousands) of textile jobs to Mexico count as pouring money into the community? I havent driven though Alex City in over a year, but the last time I was there, it looked as though many of the mills were closed down. Everyone I have talked to says that these jobs have gone south of the border. Maybe Ben Russell is a rich man's man---it sure seems like he deserted the blue collar crowd in Alex City in favor of cheap Mexican labor.
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| Name: |
Feb
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| Subject: |
For a perspective..
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Date:
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6/7/2005 10:58:56 AM
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Not sure what all is going on around there (Alex City), but there are plenty of other areas where the cheap Mexican labor is coming North of the border for the jobs. Appears there is one of two choices: (1). Send the work there, or (2) Have them infiltrate here for the work.
Guess there is not enough pressure or money for the current administration to stop the flood gates. Should see the pictures of the Arizona desert. Looks like there has been a huge tail gate party there without any garbage bins or clean-up afterwards.
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| Name: |
Maverick
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| Subject: |
For a perspective..
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Date:
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6/7/2005 11:16:22 AM
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Actually Russell Corp was one of the last US apparel manufacturers to move offshore.
Most US manufacturers moved offshore in the early 1990's or before.
I am sure Russell only moved offshore once the competition forced them to do such in order to remain competitive in the market.
I would have to assume if Russell did not move offshore they probably would have had to close the doors entirely.
Just my perspective on the matter
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| Name: |
roswellric
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| Subject: |
Sigh...
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Date:
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6/7/2005 11:23:33 AM
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That would be Asia actually. Perhaps you would like to see the mills closed from not being able to compete? BTW, Russell Lands & Ben Russell-the Lake Martin developer is a private company, Russell Corp - the mills is a publicly owned company (RML).
You see Ben Russell listed as a officer anywhere?
URL: Russell Corp
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| Name: |
Island Camper
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| Subject: |
You are correct
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Date:
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6/7/2005 11:39:43 AM
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Ben Russell and Russell Lands are not a part of Russell Corporation. I believe Ben Russell is still a major share holder in Russell Corp though. I'm not sure how much influence that gives him.
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| Name: |
lamont
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Ironic
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Date:
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6/7/2005 11:45:19 AM
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We really are our own worst enemy. We demand better quality and cheaper and cheaper prices so corporations are basically required to find a way to reduce production costs to compete. So, they go overseas to reduce labor costs and get blasted by the very consumer demanding competetive prices. What's one to do? I know, I know, let's cut officers and management compensation. That will take a firm a long way.
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| Name: |
Lakeman
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| Subject: |
For a perspective..
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Date:
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6/7/2005 6:52:51 PM
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I don't know why he sent the jobs down to Mexico, heck, all the Mexicans are up here.
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| Name: |
roswellric
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| Subject: |
Yeah...
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Date:
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6/7/2005 9:29:47 PM
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but not near enough of them..... :-)
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| Name: |
roswellric
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| Subject: |
Basic Laws
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Date:
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6/7/2005 9:50:46 PM
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Capital will always seek the highest return - wouldn't you do so with your savings? It is unstoppable. The Berlin wall eventually came down on account of that.
The layoffs are simply and adjustment in capital returns..although painful to those laid off. Look at it as just a dislocation of return on labor... The good news is that manufacturing labor in AL is moving from $10/hr to $20/hr. The problem is the path to that requires some adjustment. The end result will be fantastic for the wage earners....and their families.
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