Walton one of Barrow’s largest landowners; International land banking firm now has nearly 900 acres in county

A Canadian-based investment company that in 2011 received Barrow County’s approval for a master planned development off Highway 81 at Highway 316 has now purchased and marketed to foreign investors at least four other local development sites. The company has not disclosed to the community most of its plans, but based on online marketing materials and other resources, Walton Georgia LLC or an affiliate has purchased close to 900 acres over the five tracts in Barrow County. That makes the firm one of the county’s largest landowners. Walton also has at least two large tracts in neighboring Jackson County totaling over 2,200 acres and a nearby tract in Dacula in Gwinnett County. But despite giving the appearance as being a development firm, most of what Walton does is buy raw land, syndicate it to Asian investors at a high price, then sit on the land with plans to flip the property to a new owner sometime in the future. In the meantime, however, the land doesn’t appreciate in value for tax purposes and it’s tied up from development until local land values make a big recovery. And although Walton does have a development arm, it has so far only done actual development in Canada, not the U.S.
For the full story, see the Aug. 29 issue of the Barrow Journal.

Comments

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#1 Anonymous on 08/29/12 at 10:26 AM [Reply]

So what. It's land speculation at it's best. You buy it, sit on it until it reaches a value you are ready to sell it or develop it, and then unload it at a profit. Who cares and what was the point of your article?

#1.1 Mike Buffington, Publisher on 08/29/12 at 12:17 PM [Reply]

Read the full story in tonight's paper and that should answer your question.

#2 Michael Robinson on 08/29/12 at 11:13 AM [Reply]

Isn't the plan obvious? The company will sit on the land until the intersection is fully developed, develop the land and charge enormous rents.

It's land speculation, but it looks like a good bet. I like transparency too, but the company isn't going to reveal its exact plans to possible competitors.

But do keep updating Barrow residents on it. They're just as likely to abandon the land if things don't improve in the next ten years, unlikely as that scenario is.

#2.1 Anonymous on 08/29/12 at 12:02 PM [Reply]

There's money to be made for the few in Barrow if your got the blessing of the BOC.

The GOB(Not GOP) party types have been working on this one for a while...

Is investment firm misleading local governments?
Thursday, December 15. 2011

Buy some land...

Get the local elected Arrogance all fired up...

Have them push through some favorable zoning (inside deals) so you don't have to pay taxes (Because we all know if the BOC needs more money they can just milk their CASH COW)

And There you have it...

All the Ocean Front Arizona property your heart desires with none of those those pesky taxes or inconvenient zoning issues. Why doesn't this sound like that "No JOB" tax abatement deal the JDA ran through for Chico's?

JDA approves tax break for Chico’s
Friday, July 29. 2011

Yep, there's money to be made in Barrow for the few...

How's that GOB(Not GOP) working for you Barrow?

#2.1.1 Anonymous on 08/29/12 at 05:34 PM [Reply]

Amen to that!!!
People get off your rear ends, get involved and hold these "elected" morons accountable for their actions!!! Giving them a "blank check" like we have in the past is just plain STUPID!!!!!

#2.1.2 anonymous on 08/29/12 at 07:44 PM [Reply]

What's the big deal here? You could have bought the land yourself. I never heard any "blessings" from commissioners about any land. Maybe you're an insider yourself. Otherwise, you have thrown a bunch of random offerings out trying to make 1+1=3.

The "good old boys" should be getting something out of these deals. What is it? Inquiring minds want to know.

#2.1.2.1 You must be new on 08/30/12 at 07:20 AM [Reply]

This is Barrow and the busy body BOC has to meddle in others business, tax and spend it all...

Why this bog started with some praising the brave man *a quote "Republican" that wants more of your money because they have spent it all and want to spend more of your money next year.

As far as meddling, You can't do anything in the County without the BOC's blessing.

So, How's that GOB(Not GOP) party working for you Barrow?

#3 GOP 4 Life on 08/29/12 at 07:53 PM [Reply]

What's the problem with what this group has done? They bought some land and will now try to sell it at a profit. That's the American Way. This newspaper needs to get on board with American values. In Barrow County we support pro business Republicans. Love it or leave it. That's the way I see it. There has been no crime committed here. Some businessmen are trying to make some good old greenbacks. If you don't like that about America then you can get the hell out as Hank Jr. says! Vote Romney 2012! More money for those who already have money!!! Love it or leave it Barrow Journal!

#3.1 Michael Robinson on 08/29/12 at 08:34 PM [Reply]

Hope you enjoy your crippling monoculture after you purge dissenters.

#3.2 gObama! on 08/29/12 at 11:29 PM [Reply]

Willard is a draft-dodging tax cheat. Swiss bank UBS turned his name over to the IRS in 2009, and Willard cut an amnesty deal. This is why he desperately conceals his tax records. Willard is also a coward who sat out the Viet Nam war in France, hiding behind his cultish "religion," even while he supported an illegal and immoral war. Willard's buddy Ryan is a lifelong politician whose right-wing social engineering scheme would sock it to the poor, elderly and infirm while rewarding and protecting millionaires.

#3.2.1 coolbluerick84 on 08/29/12 at 11:43 PM [Reply]

Dude, Obama Sucks!

#4 coolbluerick84 on 08/30/12 at 12:05 AM [Reply]

I want to add another note. Winder gave Walton Group two years to get this development started when they applied for the permits, and if they did'nt they would take the permits away or void them. That was the exeption Winder made according to the original article. So, wouldn't that mean they did that to keep Walton Group from doing stuff like this. The land can't be invested to make more money without permits and rezones when its been taken back from them so they are forced to have to develop it completly to sale it to make a good profit therefore we get a new development out of the deal. Right?

#4.1 Sybil on 08/30/12 at 06:43 AM [Reply]

It is my understanding that once a property is rezoned, it should be taxed at the rezoned rate. Is that being done? If not, the county is losing a lot of tax money. Perhaps an audit of the taxes being paid on rezoned property is in order. Also, although I don't agree with it, two years for a permitted activity to start isn't much. I seem to remember one Barrow County developer getting 25 years to develop his property.

#4.1.1 coolbluerick84 on 08/30/12 at 10:03 AM [Reply]

I think two years to get started is fair for this group seeing that obviously they have a bad reputation of land banking to make money leaving the communities with nothing. I read in another article about this that it takes five to seven years to complete this process. The Barrow Commissioners, Winder or whoever want the development DONE!!!. Now I don't if all this is true about them are not but it's not really fair to the citizens of Barrow County to promise us development and not follow up on it which has happend before.

#4.1.1.1 Not the first or Last Time "Good People" on 08/30/12 at 10:56 AM [Reply]

Not the first or last time "Good People" don't have to pay taxes when the county has so many Cash Cows to milk dry...

Barrow back taxes list being published this week in Journal
Posted by
Mike Buffington
in Top Stories & Breaking News, Winder Archives
Tuesday, June 16. 2009

"The list covers 2006, 2007 and some of 2008 past due taxes. The total owed is $2.9 million.

Fi Fas — tax leins — were taken on the property in May. The number of tax leins is 10 times the normal amount, according to county officials. Some of the 2,900 listings are for lots owned by developers "

I know this was so long ago, but this list included Yearwood for his Used Car Lot in Winder.

Why do you think that the GOB(Not GOP) party types won't give those "Good People" MORE time and tax abatements?

#5 Anonymous on 08/30/12 at 08:13 PM [Reply]

Just finished watching an episode of little house on the prairie , real quality family entertainment. It was the episode where mrs. Olsens cousin moves to walnut grove and opens a newspaper, with Harriet as ace reporter. They printed nothing but lies , rumors and gossip about the citizens and of course the whole town ate it up. Cousin stirring defended his paper business to pa ingles by referring to freedom of the press and giving the people what they want.
I couldn't stop thinking about our own little gossip colum of a news paper here in winder.why don't we have a Charles ingles to stand up here in winder and point this out to folks, so that like the little fictional town of walnut grove we will all stop supporting the yellow journalism of the barrow journal and have a proper newspaper like we used to.

#6 richard baker on 10/03/12 at 08:22 AM [Reply]

Taxing the heck out of Barrow County Residents again.There is a RESIDENTIAL neighborhood on the corner of Hwy 81 and Punkin Junction...the noise and traffic is very upsetting.If they area planning for more development for commercialization then they must put up Sound Barrier to protect the quality of life in this area!

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Walton one of Barrow’s largest landowners; International land banking ...

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Walton one of Barrow’s largest landowners; International land banking firm now has nearly 900 acres in county

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