While your property may have access to water, you may have to get in line to actually get it: a 4 to 5 year long line in some areas to be exact. What’s the ripple effect of the growing Texas population on property owners & how to plan accordingly. r.
In July of 2022, the State legislature voted unanimously that state planning agencies must consult with climatologists to predict the future water needs of Texas. The Texas Water Development Board just recently announced that they estimate the population of Texas to grow from 30 million people to 52 million people by 2070. Obviously, there’s already huge demand on our water infrastructure and our aquifers and having our population grow at that rate is going to increase that demand.
So, how do we plan for this moving forward? I’ve been saying for a couple years now that I think the biggest threat to growth in our state and to land development as well, the land business, whether that’s brokers, developers, investors, is a lack of water. I just mentioned in a previous video that we did, for one of our projects, the utility provider said, “sorry, but we don’t have water for four to five years.” So, the implications of that, the ripple effect that that will create are far and wide.
So, how do you plan for this, right? Water is such a wonderful resource, but it’s a vital resource too. So, these agencies are working closely with these climatologists. But, you as a consumer, you as an investor, can track what’s taking place .This is all public information. You can go sit on the board meetings of these utility companies to see how are they sourcing their water. Many of the utility providers throughout the Austin area are now pumping the brakes saying, “we are not accepting any new applications for LUEs.” Again, I mentioned in a previous video, an LUE stands for living unit equivalent. It’s just a fancy way of saying water tap. Many utility providers are not accepting any new applications. So, if you bought a piece of land and you can’t get water and you’re looking to develop it, well, that land is all but worthless too you.
So, it’s very recommended, I highly, highly recommend that if you’re buying a piece of land for new development or development in the future, always do a feasibility study. Even if someone says there is water in the area, that does not mean that there is capacity in that water line. And, agents specifically are guilty of this. A lot of agents will say that there is water in the area or water available and they need to be very careful, because they could be setting themselves up for a lawsuit, because, just because there is a water line, even if it’s a very large water line, there could be demand already placed through LUE applications and that could be tapped out, meaning there is no more capacity in that water line. So, always do your homework.
Again, I’ve always recommended in every video, consult with specialist, get with an attorney, do feasibility studies to protect yourself. But, I think water is going to become a big issue and there’s a lot of misinformation out there depending on who you listen to. But, it’s always best to do your homework and just educate yourself because it could drastically affect the land business and growth in the state of Texas. You know, we want to protect our aquifers and we want to develop consciously with a heartbeat, so there’s a right and a wrong way to approach it. But, do your homework. I highly recommend it. Obviously, an ounce of prevention is worth a pound of cure.
Feel free to reach out to us with questions or other topics you’d like to see covered.
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