There's a rush on in SoCal--for entitled land, Passco Cos Development prez Scott Allen tells us. (This was much easier when you just claimed any land you stuck a flag in.) Demand has returned after going into hiding after the recession.
After a slow six years, there's "pent-up demand for entitled land in the current market," Scott says. Irvine-based Passco is targeting available SoCal properties at prices between $1M and $20M. Recently Passco tapped Allen to head Passco Cos Development. He was prez of Tava Development Co, a land development specialist. Allen will also oversee all of the company's current land holdings and manage future land sales.
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