Land development company opens more lots in Rio Rancho

By the end of April, Price Land Development Group is expected to release 715 lots in Albuquerque, Santa Fe and Rio Rancho.

The founder of the land development group, Garret Price, says the timing is great for a lot of people.

“These buyers have been subject to the ongoing housing crisis, and we are proud to address that need,” he said.Lana Smiddle, executive director of Home Builders Association of Central New Mexico, says to say it is great to see lots delivered is an understatement.“We have growing industries here, and a growing need for quality homes. Garret and his team understand that, and we’re grateful for their tireless work to help address the need. What they are providing accounts for 30% of the lots needed to meet the current demand,” Smiddle said.Since January, the United States has experienced rising mortgage interest rates, declining home sales and ongoing inventory and affordability issues.Currently, an average home in Rio Rancho costs north of $300,000.Price is collaborating with Richmond American Homes/Harvard Investments and Pierre Amestoy on two different projects in Rio Rancho. The first is in Mariposa with 174 lots. The second is in Los Diamantes in the south region of Rio Rancho with 270 lots.

According to Price, these lots will be designed to fit the needs of a diverse consumer group. That means parks and other quality-of-life amenities will be available within sub-communities in neighborhoods.“Mariposa is a multigenerational community attracting everyone from growing families to empty nesters and the homes at Seasons at Monarch will reflect that,” Price said.Price added that there is simply not enough housing right now. Which is the root of the housing crisis.“When people are graduating from UNM/NM State and getting jobs, how do we keep them here? It is through quality housing and quality jobs. The two go hand in hand,” he said.More information about Price Land Development Group can be found on the