Necessity is the mother of invention. The Great Recession was the mama of downturns in real estate memory, and gets credit for more than a few inventive moves we'd regard as highly impressive. Such as Naples, Fla.-based London Bay Homes principal Mark Wilson's painful survival tactics, that happened to put he and his company in prime position to win during the first leg of recovery now.
Naples Daily News staffer Ruth Fletcher reports that, under duress, Wilson bought more than 100 lots in Mediterra, a 1,700-acre luxury golf course community in North Naples that was then 9 years old, and took over sales and marketing operations from the financially troubled developer, Bonita Bay Group. Fletcher writes:
Buying land at the bottom put London Bay in a sweet spot when the housing market finally started to turn, and eventually boom.
Now Mark Wilson has about 120 employees and his company — which also offers design and remodeling services — is growing.