Promoting the Equestrian Community to the Developer and the Homebuyer

By Jennifer and Michael Donovan, Equestrian Services, LLC

Many people long to include horses into their residential living experience. At one time, this required building a barn and the other necessary structures on your own land. Now it’s possible to find communities that offer central equestrian facilities, where residents may board their own horses or simply be around other residents' horses. Designed similarly to successful golf-community living, the equestrian community concept offers an opportunity for people with like-minded interests to live and interact with horses.

The horse industry has a direct economic effect on the U.S. of $39 billion annually. More than 4.6 million Americans are involved in the equestrian industry, and tens of millions more participate as spectators.*

There are nearly 300 equestrian-themed communities in the United States. Without a doubt, the U.S. offers an excellent opportunity for the development of future equestrian communities.

For the Builder and Developer

With appropriate planning, design and support, builders will be able to develop a successful community built to serve the equestrian enthusiast and nature lover. However, several issues should first be addressed in order to create a successful equestrian community.

1. Perform a Feasibility Study before you commit to a project. Like golf courses, equestrian facilities are not operationally profitable. A Feasibility Study will help you determine that the development model makes overall economic sense. Unlike golf, there are a broad range of equestrian disciplines, interests and pursuits. A Feasibility Study will identify the specific equestrian niche that will bring the greatest value to your project.
   
   
2. Answer the question - are the amenity capital costs in line with the development’s pro forma? Does the equestrian amenity make financial sense? If designed, executed and managed properly, an equestrian community can help a project’s bottom line including higher per-acre lot prices and faster sales pace.
   
   
3. Carefully select who will manage and operate the equestrian facility. Solid programming and management is needed to ensure long-term success and secure appropriate liability insurance. A professional equestrian management company will bring the best expertise and minimize the risks associated with barn operations.
   
   
4. Work with experts in equestrian planning. Even a lifetime of riding horses does not make someone qualified to plan, design, construct, or operate an equestrian facility. Equestrian planning requires equestrian experience, but it also requires a broad range of expertise including land planning, architecture, finance, business management and hospitality training. Don’t risk your multi-million dollar investment by working with someone that does not possess the necessary skill-set.

Attracting the Buyers

For many, living in a well-executed and correctly-managed equestrian community fulfills a lifelong dream. The buyers need the developer’s assurance that these communities will be properly planned, designed, implemented and managed, creating an exceptional standard of living for active equestrians and passive enthusiasts alike. Several ways to market exist.

1. Boast the New Ruralism concept.  Combining the best of rural living within a managed environment with the latest residential technology has emerged as one of the hottest lifestyle trends.
   
   
2. Provide an equestrian brand. A strong equestrian “name” promises the homebuyer a level of quality and service. The Oaks of Lake City, located 35 minutes from Gainesville, Florida, features the world’s first exclusively-branded O’Connor Signature equestrian facility and is enjoying robust lot sales even in today’s market.
   
   
3. Include concierge services. Highly-trained equestrian staff “sells.” Horse owners feel confident with staff who possess credentials in equine care and are then able to leave their horses (without worry) when they travel, or they simply lack the time for daily horse care.
   
   
4. Promote the amount of land available. Large tracts of land left open for multi-use trails, riding arenas and parks are part of a successful equestrian community.

We expect to see many more equestrian communities built. After all, with nearly two million people who own the 9.2 million horses in the United States, another two million people involved as equestrian volunteers or engaged in the equestrian lifestyle through family affiliation*, and the horse being named the fourth most popular animal**, the demand for equestrian communities featuring new ruralist principles is expected to remain strong.

* According to a 2005 economic study conducted by Deloitte Consulting LLP for the American Horse Council Foundation (AHCF).

** As reported by Animal Planet.