Long-range plan to add value to undeveloped areas of HSV

EDITOR'S NOTE: This is the first installment of an interview with Hot Springs Village Property Owners' Association Chief Operating Officer and General Manager David Twiggs concerning financial development in the Village.

HOT SPRINGS VILLAGE -- Ponce de Leon Center, located in the heart of the Village, is an active and vibrant part of the community's social structure, but the bulk of the acreage around it remains unused, which concerns the HSV Property Owners' Association.

Part of the concern is due to the fact that a large portion of the 2,016 lots do not generate revenue in the form of assessment dues.

The POA owns 210 of the lots that were returned either through foreclosure or a quick-claim deed. Another 228 lots contain homes, 590 are in arrears on assessments, and 296 are the property of the commissioner of state lands.

"The golf courses and the lake lots are built out, so the job is to add value to these areas that are not inhabited. We have done a few things initially that have helped, and we're working on long-range plans to flesh these areas out, add value to them and attract more members," said David Twiggs, chief operating officer and general manager of the POA.

The first step was the creation of Grove Park, located next to the Ponce de Leon Center. The multi-purpose facility is now the home to the summer Green Market every Tuesday and Thursday, which continues to grow both in the number of vendors and customers. An Artisan's Market is held quarterly, along with Rock Porch Sessions and Village Jam Sessions, which allow residents to socialize and listen to music.

Construction of the park was done in-house for about $25,000. With the revenue from vendor fees, the park will eventually pay for itself and generate additional revenue for the POA.

"It was a small investment that has already paid big dividends for us in terms of popularity and use. I have talked to several nonresident members as well as visitors who are now more inclined to move here because of the farmer's market. When I relocated here from Savannah Lakes (South Carolina), one of the first things I was looking for was a farmer's market and a place where people could assemble and socialize. A happy Village makes a better first impression on visitors who come here," Twiggs said.

Twiggs has several ideas posted on a large bulletin board in his office to utilize other tracts of land in "Village Central," including a community garden, an arts village and even an equestrian center.

"We've looked at several ideas. A lot of them get thrown out, but we're zeroing in on some things based on the input we've gotten from our members. So many people are into the arts, whether they paint, do pottery, or those who like to shop for and collect things. With the success of Grove Park, a community garden seemed to be the next step, and I have had so many people express enthusiasm for the idea, including their willingness to help get it off the ground," Twiggs said.

Twiggs has also had a positive response from members who share his love of horses about the creation of an equestrian center. He has pegged a large area in the northeast section of Village Central for the center if research, and member interest, shows it would be viable.

"It is another possibility to bring people here who love the outdoors but they don't necessarily golf. The business model I'm forming is for the Village to be diverse and offer something for everyone. With an equestrian center, people can be brought in and take organized trail rides, and people who own horses who want to move here could have their horses right here with them," he said.

Twiggs said the areas could help form unique, special interest communities, which could tap into the Village's network of trails. With a little expansion work, these developing areas could be connected with trails.

"Having easier access to an area by a trail as opposed to making a 10-minute drive to get there is a benefit. That convenience adds value to the area and is more apt to attract new members to buy these unproductive lots and eventually build a home. It's not an overnight process, but you have to start somewhere," he said.

Local on 07/25/2014

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