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It’s not enough that you spent $2 million for a bare lot and you have to spend another $6 million to build your dream house on it. Now you’re forced to contend with an architectural review board that will decide whether your proposed design fits into the neighborhood.
My BW colleague Lauren Young just passed along a press release from DPS Development Co., which uses architectural review boards in its way-upscale “sporting club communities.” The release quotes Dan Paquette, DPS vice-president for planning and development, about how not everyone fully appreciates the boards’ judgments. Says Paquette: It’s like being told, “Your baby is ugly.” On the other hand, at least your tasteless neighbors have to go through the same painful process.
For fun, here are the Architectural Review Board guidelines for Greenbrier Sporting Club in White Sulphur Springs, W.Va.
Hey, at least the board might be able to prevent glass foreheads.
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.