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Drought, A Major Issue for Developers

LOS ANGELES— “Without water, your project is dead,” according to panelists at NAIOP's I.CON event last week, who discussed the regulatory environment.

By Kelsi Maree Borland | Updated on June 17, 2015

LOS ANGELES—“Without water, your project is dead,” said John Condas, partner at Allen Matkins, in kicking off the Regulatory Environment and Its Effect on Development panel at NAIOP‘s I.CON conference last week. (NAIOP is a GlobeSt.com Thought Leader.) Condas moderated the panel with speakers Troy Briggs, northeast regional director at Goodman Birtcher North America; Fran Inman, SVP Majestic Realty Co.; John Magness, SVP and Western regional director at Hillwood Investment Properties; and Michael Murphy, chief development officer at Center Point Properties. Panelists delved deep into regulatory issues, but were clear that the ongoing drought in California presented some real challenges for developers.

“If you are looking to buy a piece of land, you really need to do your due diligence with your water district to ensure that there is aggregate water supply, because I think there is going to be a potential moratoria on water hookups,” added Condas.

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