Urban land economist Homer Hoyt, 82, has been both a scholar and a doer in the field of real estate for decades.
The non-profit Homer hoyt Institute he founded at American University 10 the real estate and land planning program there, has studied, among other things, growth and no-growth policies of communities and urban information systems. Independent since 1970, the institute continues its association with some university personnel.
Hoyt, who has master's and doctor's degrees in jurisprudence and philosophy, was honored last week at a luncheon during the annual housing forecast seminar of the National Association of Home Builders. The author of "One Hundred Years of Land Values in Chicago, 1830-1933M" a basic text in realty appraisal that in the 1930s first laid out the concept of 18-year real estate cycles, Hoyt is still writing.
Over the years, the land economist has made appraisals and market surveys of more than 500 shopping centers in the U.S., Canada and Puerto Rico. He conducted land use surveys for surburban jurisdictions here, including Montgomery and Prince George's counties.
A Washington resident for some time, Hoyt and his wife have been tenants in the Van Ness apartments since that complex was completed on Connecticut Avenue NW a decade ago.
Hoyt has also been buying and selling land for years. One 670-acre tract of his became part of the Burke Centre community currently being developed in the Pohick area of Fairfax County.
After receiving a plaque last week from his colleagues at the Institute, Hoyt said he thinks the new emphasis on energy conservation will help spur a return of some people to the center cities. Self-contained communities with railroad and mass transit service will be in a favorable position to deal with increasing costs of energy, he added.