The Real Estate Wonk: Rouse's successor braces for land-value hit - Baltimore homes, apartments, real estate: Buying, selling, renting and housing news from reporter Jamie Smith Hopkins

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December 12, 2007

Rouse's successor braces for land-value hit

General Growth Properties, master developer of Columbia since it bought The Rouse Co., expects to "lower the estimated market value of its remaining, unsold residential lots" in the area, Lorraine Mirabella reports in today's paper.

All told, it's planning to take a noncash charge of $77 million on residential land for sale in Columbia and three other planned communities in Howard and Prince George's County.

Posted by Jamie Smith Hopkins at 9:22 AM | Permalink | Comments (0)

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About Jamie Smith Hopkins

Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
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