Nuevo Rancho Viejo
Thursday, January 20, 2011
The Rancho Viejo development, totalling about 12,500 acres south of Santa Fe, has been sold. (Santa Fe New Mexican) Like other big real estate deals, ownership is thoroughly obscured by corporate identity, in this case, Univest-Rancho Viejo LLC - whoever the hell that is.* They purchased the "community" from Ariz.-based SunCor Development Co for an undisclosed amount. The book value was placed at $400 million at one time.
Referring to a "community" as being bought and sold has a company town ring to it and this gets clarified in the article.
The development has some 1,200 homes as well as parks, playing fields and a central plaza. There are three separate homeowner associations that own all of development's open spaces, recreational areas and six-plus miles of trails. These areas are not included in the transaction.
"We hope some of the past plans as presented to us now will be completed by the new owner," said Bruno Keller, president of the North Homeowners Association.
And no worries there, right? Right?
*This could be anyone for all hapless homeowners know. (Could it be SAAAtan?) The New Mexican story states the company includes a group of original owners - whoever the hell that is.
Comments