RESPEC Helps Client Raise Property Value by More Than 30,000%
RESPEC’s hydrology and water structural work for New Mexico businessman Don Chalmers proved vital in turning his $1,000 purchase into a land deal worth over $300,000 in Rio Rancho.
Mr. Chalmers had interest in a plot of land that housed a large detention pond located in a prime retail location in Rio Rancho. He hired RESPEC to perform a hydrology test on the site to determine if the pond was still necessary to reduce water runoff. RESPEC concluded that the pond did not reduce flow rates and was no longer needed because of updated storm drains in the area. Based on these findings, Mr. Chalmers moved forward with the land purchase for approximately $1,000.
RESPEC proved to the Albuquerque Metropolitan Arroyo Flood Control Authority and New Mexico Department of Transportation that the pond was unnecessary and obtained permission to remove it. RESPEC replaced it with a much smaller catch-basin water quality structure that effectively trapped floatables and lowered flow rates while opening up nearly an acre of land for development.
After the job was completed, Mr. Chalmers possessed one of the most valuable properties in all of Rio Rancho and sold it for more than $300,000. The property now houses a Clean Machine car wash and Latitudes gas station and store.
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