Insights from Doug Hunt, CEO of Resproland
Since the mid-1980s, I’ve witnessed the ebb and flow of the land development market several times. Each cycle has taught me invaluable lessons about resilience, timing, and the importance of strategic planning. As we look toward 2025, I see exciting opportunities and challenges that will shape the land development industry in the near future.
The Cyclical Nature of Land Development
Before the 2008 financial crisis, the market was booming. When the slowdown hit, it was a stark reminder that the industry demands adaptability. Yet, those who weather downturns and prepare for the recovery often come out ahead. When the market rebounded from 2008 to 2020, the growth was steady, operating at about three-quarters throttle. Then, COVID-19 brought its own unique challenges.
In 2020, Resproland was ready to sell 300 lots across three subdivisions. However, the uncertainty caused by the pandemic forced us to reassess. I had conversations with multiple builders about adhering to their lot-takedown schedules. In these moments, I was reminded of a lesson from 2008: developers who had inventory ready when the market rebounded saw incredible success. That knowledge guided our decisions, and as anticipated, the market bounced back—faster and stronger than ever before.
The Key to Success in 2025 and Beyond
The current market is the fastest and most dynamic I’ve ever seen. For developers, this creates an unprecedented opportunity. The key lies in finding the right sites, securing entitlements, and permitting projects effectively.
However, success requires more than just good opportunities—it demands a skilled team, proper funding, and a clear vision. At Resproland, we liken our situation to having a racecar that’s ready to go but needing enough fuel to run wide open. If you’ve got strong projects and a winning team, money will find you.
Regional Growth and the Areas to Watch in Upstate SC
The upstate South Carolina region, including Greenville and Spartanburg, continues to thrive as a development hotspot. As these areas mature, growth is expanding into tertiary markets like Boiling Springs, Gray Court, and Greer. These areas remain receptive to developers, balancing support with necessary regulations.
Looking ahead to 2025, I see tremendous potential in areas like Laurens, where development opportunities are just beginning to flourish. Similarly, Bluffton, Ridgeland, and the surrounding coastal regions are experiencing a boom driven by their openness to development and appeal to retirees. Each of these markets represents a unique opportunity for strategic growth.
Resproland’s Goals for 2025
As a company, Resproland aims to achieve the following in 2025:
- Launch Multiple Entitlement and Development Projects: These projects will solidify our position as leaders in the upstate and surrounding regions.
- Expand Investor Relationships: Building partnerships with landowners and investors will be critical to sustaining growth.
- Capitalize on Existing Assets: We’re focusing on properties like Babewood Lots, Sharon Church Road, and Welford to either develop or sell.
- Establish a New Office and Shop: By purchasing and entitling a new site, we aim to break ground on this significant project by late 2025.
The Road Ahead
Every market slowdown I’ve experienced has been followed by a stronger recovery. With interest rates expected to drop and economic optimism increasing, 2025 holds immense promise for land developers who are prepared to adapt and innovate.
At Resproland, we’re committed to navigating these opportunities with excellence. Our team’s expertise, combined with a strong pipeline of projects, positions us to thrive in the evolving market. Whether you’re a builder, investor, or landowner, we invite you to join us in shaping the future of land development.