Mountain Shadows Subdivision

Anchorage

1970

The Mountain Shadows subdivision project was a fifteen acre development of one acre residential lots with nice views near Anchorage, Alaska.

The 15 acre Mountain Shadows subdivision is special because it was the very first real estate development project for Walsh Investment Company.  Charles Walsh Sr briefly had a job selling land parcels for another local developer before realizing “Hey, I can just do this myself!”

He found the land because it was nearby where he was living at the time.   The platting and permitting process lasted approximately six months and the land development work took less than two months. Half of the lots were already sold by the time development was completed and the rest sold quickly. This first project generated a solid profit and Walsh Investment Company never looked back!

Investment Thesis

The land is located off of Michael Road on Talisman Roas, Jeannie Road, and East 130th Avenue, a short drive from downtown Anchorage, Alaska which made it attractive to young families. Every lot had a nice view and they were about an acre each.

Lessons Learned

Some things are best left to an expert. In an early attempt to save money Charles and a friend rented a backhoe to try their hand a clearing land themselves. They pretty quickly rolled the backhoe and realized they should leave the heavy equipment operation to someone who knew what they were doing instead.