Friday, December 14, 2007

A Real Estate Gamble That Paid Off


The London Bridge
Lake Havasu City, Arizona

Lake Havasu City was established in 1964 by Robert P. McCulloch (of McCulloch Chainsaws) as a planned community. McCulloch had purchased 3,500 acres (14 km²) of property on the east side of Lake Havasu along Pittsburgh Point, the peninsula that eventually would be transformed into "the island". The city was incorporated in 1978. The present city grew around an old mining town established in the early 20th Century.

A popular tourist attraction in Lake Havasu City is the London Bridge, which crosses an 8ft (2.4m) deep man-made canal that leads from Lake Havasu (on the Colorado River) to Thompson Bay. It was bought for US$2.5 million from the City of London when the bridge was replaced in 1968. The bridge was disassembled, and the marked stones were shipped to Lake Havasu City and reassembled for another US $7 million. (Information from Wikipedia)


The London Bridge in Arizona must wonder what the heck happened to it. It went from a foggy, damp environment to weather that can scorch the skin off of the meanest snake, or the latest drunk boater on holiday weekends. Can you imagine the people of London, in the 1800's (when the London Bridge now located in Lake Havasu, AZ, was built) being told their bridge was going to end up in a hot desert in the middle of nowhere America? Bwwaaahhaaahhaaaahhaaaa!!!!!

Establishing Lake Havasu City, and hauling in the London Bridge stone-by-stone was a gamble that paid off for Mr. McCulloch, because Lake Havasu has seen a boom in building and real estate that he probably would have never imagined. The current population being around 50,000. The housing bubble added greatly to their population. Lake Havasu used to average 160 new building permits per month...that was last year. This year, in November, the City issued 3 new building permits. That is the lowest since they started keeping track in 1980.

To visit the London Bridge in Lake Havasu City, AZ, take your bottle of lotion/sunscreen and lots of water. To visit the London Bridge in Jolly Old England, check out this website for great deals on hotels.

Do it. Now. Maybe they'll sell YOU one of their national landmarks.








1 comment:

Anonymous said...

Is it really the burst of real estate bubble or is it the idiotic politicians that run the city.
The greatest days the city has ever seen was when MTV would have their spring break parties there, or when Rick Deez and KIIS fm would have their Memorial and Labor Day Paties. When girls could parade around on the boats topless.
Now the city is trying to ban everything even the partying in the channel. When will these idiots stop.
What idiot said, lets let the cops film a show where they arrest boaters. REAL SMART.
Thank God for Lake Mead.