flexiblefullpage - default
Currently Reading

Water-Focused Investors Are Taking Over Arizona Farmland to Help Urban Home Builders

Advertisement
billboard - default
Construction

Water-Focused Investors Are Taking Over Arizona Farmland to Help Urban Home Builders

Investors are pumping out water in Western states to support city builders, but locals are fighting back


December 1, 2021
Southwestern reservoir
Image: Stock.adobe.com

As demand for water among city and suburban builders outpaces dwindling supply, some investors are buying thousands of acres of farmland in rural Southwestern regions to support residential construction projects hundreds of miles away. 

Water-focused investors are becoming more active as reservoirs along the Colorado River and throughout the West succumb to drought within a changing climate. According to The Arizona Republic, Greenstone and related investors bought over 8,000 acres of farmland in three Arizona counties throughout recent years, sparking debates among local landowners with even more valuable water rights. 

Here along the western edge of Arizona, the investment company Greenstone bought 485 acres of farmland and now awaits federal approval to sell most of its water entitlement from the land to the town of Queen Creek, one of the fastest-growing suburbs in Arizona.

The Republic’s review of county property records in Arizona revealed that two other water-focused investment companies, Water Asset Management and Vidler Water Company, own agricultural lands totaling about 8,642 acres in several areas of the state. These same companies have bought land and water rights in places across the West, amassing a growing list of investments in Colorado, Nevada, California, New Mexico and Idaho.  

The surge of investments in farmland with the primary purpose of selling water has kindled emotional debates about whether the deals will dry up farming towns. On one side are those who argue that landowners should be able to sell water and that free-market forces hold promise to reallocate scarce water supplies. On the other are people who argue that a public resource shouldn’t be sold like a commodity for easy millions and that these profit-driven deals will fuel more urban growth at the expense of rural communities.

Read More

Related Stories

Modular Homes

System P4 Is Bringing the Speed of Car Manufacturing to Modular Home Construction

The launch of housing facility System P4 marks the beginning of a more efficient way to produce modular homes off site

Building Technology

Construction Innovation: Framers Fitted for Tech

When it comes to high-tech construction, framers are fitted for tech. The construction industry should embrace that

Housing Giants

2022 Housing Giants Report and Rankings

Pro Builder's Housing Giants report ranks the top U.S. home builders by revenue, closings, and type and location of homes built and takes a deeper dive into two driving forces in housing today: built-for-rent and off-site construction

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category




Advertisement
native2 - default
Advertisement
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.