Thursday, July 23, 2009

The Rich Home on the Range

Mark Lowham was raised on a ranch in Casper, Wyoming. He got away from roping steers and repairing fences to study at Stanford Business School. Lowham thought he might return to ranching one day, but he never dreamed that instead of roping steers, he’d be marketing ways to rope adults into a herd of conservation-minded land-owners. Lowham is senior vice president of WEST*GROUP, where he works with Gerald T. Halpin, a former rocket scientist renowned for having the perfect nose for real estate deals. In 1989, WEST*GROUP formed a partnership called Meridian, whose mission was to develop a 1400 acre ranch in Jackson Hole, Wyoming, just minutes from the most perfect snow midway between the town of Jackson Hole and the Jackson Hole ski area. The spread was initially zoned and approved for 1160 home sites but Halpin decided to turn what he called Indian Springs Ranch into a hybrid of private land ownership and common space sharing. Owners would hold title to a specific portion of the overall ranch – their homestead – and have access to the rest, much like a country club. Those 1400 acres would only house 46 home sites of approximately seven acres each, enough really to be anyone’s Ponderosa. But you’d still get all the perks of ranch ownership: acres of protected ranch land, grazing cattle, horses to ride, barns, pool, tennis courts and a gathering lodge for community...newgeography

Damn, the cat is out of the bag. Now everyone will know that one of the perks of ranching is having a swimming pool and tennis courts.

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