Developer: Mick Mulvaney
Price Mulvaney Paid: 210 acres at $9,000 per acre
Price Mulvaney Flipped it For: 126 acres at $25,600 per acre
Personal Profit to Mulvaney: $1,326,050 + 84 acres -- WHOA!
Patriot Creek Subdivision and Historic Site
Ever heard of it?
This was another brianchild of Developer Mick Mulvaney!
On May 4, 2004, Mick Mulvaney told Lancaster County Council that he had bought 200 acres at the site where General Sumter camped during the Revolutionary war. Well. . . he admitted . . . it's not exactly the site. . . nobody really knows for sure where he camped. But that's neither here nor there. It gave Mulvaney a "hook" to get Lancaster County to bend their rules for him - just this one time. Okay . . not really just this one time, there would be many many times.
Click here to listen: "Little tidbits that go unnoticed" (coming soon) and "a place for school kids to learn" (coming soon).
Mulvaney told County Council that the natives here don't really care anything about their history, so we're lucky that he came in to tell us about it. (Even if he had to kind of make it up). And we're extra lucky that he bought this land because -- in addition to clear-cutting all those nasty trees off of this (arbitrarily designated) historic site and then putting up plastic houses -- Mulvaney was going to create "something that's lacking in Lancaster County" -- a place where school children can come and learn about their history.
But in order to do that, Mulvaney needed a lot of favors for his new outdoor historic classroom / plastic house subdivision. A lot of special exceptions. Come on - just this one time - just for meeee?
Click here to listen: 380 Units and no Commercial (coming soon)
He asked Lancaster County Council to allow him to do a PDD with higher density and lower lots widths (from 70 ft lots to 40ft lots with 3 ft side setbacks). And without commercial buildings required for PDDs (commercial is how we taxpayers pay for residential growth).
If only Council would allow Mulvaney to built on 40-foot lots instead of 70-foot lots, then he could build this wonderful outdoor learning facility for "school kids."
And what if Lancaster County said no? Click here to listen to what Mulvaney said: The County doesn't get anything because I don't have to (coming soon)
But did he build us this wonderful outdoor learning facility? Does Mulvaney care about Lancaster County? Click here to listen to what he had to say about that: "turn it and burn it and leave" (coming soon)
Nope! Mulvaney didn't build this historic learning facility. Instead, Mulvaney flipped the property for a huge personal profit.
Mulvaney was helped considerably by the fact that he was able to convince the family of Onie Foard to sell him the land for only $9,000 per acre after her death -- days after he admitted to Lancaster County Council that the property was worth $30,000 to $35,000 per acre. Click to Listen: What the Land is Worth(coming soon)
(You're gonna see a pattern here!)
(You're gonna see a pattern here!)
Patriot Creek Timeline
5-4-04 Mulvaney asks County Council for the Special Exceptions for his land, over the heartfelt objections of local landowners. Click to listen to his response to them: "They never were her trees and either I was gonna cut them down or someone else" and "Certain people called me a yankee" (audio coming soon)
6-8-04 Mulvaney actually buys the land from the estate of Onie Foard (210.3 acres) for the bargain price of $1.9M (only $9,000 per acre). Note: Mulvaney had just testified before Council that the land is worth $30,000 to $35,000 per acre -- Wonder what the Foard family thinks about the price they got from Mulvaney!
2-22-06 Mulvaney flips 126 acres of this property for $3,226,050.00 to Shea Homes. (That's $25,600 per acre). He kept the other 84 acres.
WOW - What a personal profit for Mulvaney!
And where is our historic site and outdoor classroom for schoolchildren?
It ain't gonna happen. Mulvaney took the money and ran!
Mulvaney's Four-Step Plan to Financial Success:
1-- Find a family who's lost their mother and buy land from her estate for one-fourth of what the land is worth.
2 -- Come up with a good story about how this property is special and he's going to do something to benefit and civilize the bumpkins who live around here (even though he doesn't intend to do it)
3 -- Tell this story to the County Council and convince them to improve the land by rezoning it, giving infrastructure bonds, etc.
4 -- quickly, flip the property and "turn it and burn it and leave"!