The Recession and Land Conservation

The housing market collapse presented land conservation trusts with the opportunity to purchase land slated for development. As a study by the Land Trust Alliance puts it, “land trusts are attractive buyers (to banks) because they don’t require further infrastructure investments.”

Land trusts all over the country are taking advantage of those opportunities. In Northern California, several land trusts acquired parcels this year. The Trust for Public Land bought chaparral-covered land for $4 million that was going to be bulldozed. The Peninsula Open Space trust paid $16 million in June for the 966 acre Rancho San Vicente, a former cattle ranch. The Ranch was slated to have 300 units and 16 large estates built.

The Sonoma Land Trust agreed to pay $36 million for the 5,630 acre Rule Ranch in the hills. The Northern Sierra Partnership has been buying one-square mile parcels of private land in the area between South Lake Tahoe and Lassen Volcanic National Park.

Erik Vink, the project manager for Trust for Public Land said, “To have property with this combination of oak woodlands bordered by river is extraordinary. There aren’t many properties like this out there, especially in this low foothills belt.”

“This is our moment to shine,” said Sam Hodder, the California director of the Trust for Public Land. “It’s important that we take this moment of opportunity and seize it.”

Across the country in Connecticut, land trusts are also buying parcels slated for development. The Trust for Public Land bought a 42-acre site for $9.7 million that was going to be a 127-unit housing development. The site has salt marches.

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