Building Charter Communities in Appalachia - 12 Month Update | #63
Feb 24, 2025
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Josh Abbotoy, CEO of RidgeRunner and Managing Partner at New Founding, updates on his ambitious Highland Rim Project, aimed at revitalizing rural Appalachia. He discusses the surge in remote work leading to a boom in rural living and the diversity of buyers showing interest in these homes. The conversation touches on the challenge of preserving regional culture amidst growth and the appeal of self-governance through land ownership. Josh also highlights the rise of agrihoods and crypto opportunities in the region, showcasing a transformative vision for small-town America.
The Highland Rim Project leverages the trend of remote work to attract families seeking traditional values in rural Tennessee while preserving regional aesthetics.
The initiative aims to create self-sustaining communities that harmonize with local culture, opposing past modernization efforts that compromised small-town identities.
Deep dives
Decentralization and Relocation Trends
Decentralization in the economy is allowing for a new category of workers to relocate to less urbanized regions, particularly the heartland of America. As more people seek healthier, natural lifestyles, approximately 20 million Americans are looking to move away from cities and suburbs to areas that reflect traditional family values. This trend has been accelerated by the rise of remote work and the influence of social media, where many are inspired by farmsteading lifestyles showcased online. The convergence of these factors has made rural areas increasingly appealing, transforming local economies and communities.
Highland Rim Project Overview
The Highland Rim Project aims to capitalize on unique real estate dynamics within an underappreciated region of Tennessee. The area surrounding Nashville offers diverse river valleys and rich cultural heritage, providing an attractive setting for those interested in relocating. Recent developments within the project have led to significant property acquisitions, with dozens of families already moving to the region. The project's vision includes creating a self-sustaining community that respects and enhances the area’s existing cultural landscape.
Community and Cultural Preservation
The project prioritizes preserving the unique character and heritage of the Highland Rim region while attracting new residents. Unlike past initiatives that sought to modernize or cosmopolitanize smaller towns, the project recognizes local cultural identity as a strength that can enhance its appeal. Architectural controls and community planning are focused on maintaining traditional aesthetics to foster a sense of belonging and connection among residents. This approach not only attracts long-term residents but also helps prevent the homogenization often seen in tourist-centric towns.
Future Developments and Economic Growth
Plans for the future include continued property acquisitions and the development of various community amenities that cater to new residents. The project is attracting a diverse range of businesses that complement the lifestyle and values of the incoming population, including light manufacturing and service industries. A significant element involves creating spaces for social interaction among individuals working remotely, which enhances both personal and professional networks. Overall, the project's roadmap focuses on sustainable growth that benefits both new residents and the established community.
Last year, Josh Abbotoy, managing partner of New Founding and CEO of RidgeRunner, joined our podcast to discuss the vision for RidgeRunner, a portfolio company building charter communities in Appalachia.
Many hit pieces later, 40 households involved, and thousands of acres of land purchased, he joins us again with the 12-month update on the project:
Timestamps:
(0:58) What is the Highland Rim Project?
(3:12) Remote work, the big sort, and the growth of rural areas
(7:08) Progress in the last 13 months
(13:03) Preserving regional aesthetics and character while developing
(16:19) The appeal of distinct, non-homogenized small-town America
(21:28) Navigating hit pieces from the legacy media
(24:58) Surprising demand and diverse buyer profiles for the project
(30:45) Landed Gentry: self-governance through rural land ownership
(37:26) The Highland Rim Sporting Club
(39:36) Attracting companies and manufacturers to the region
(43:20) Freedom Cities & Trump tailwinds
Josh Abbotoy is the CEO of RidgeRunner. He is also a Managing Partner at New Founding. A seasoned private equity lawyer by background, Josh is the grateful beneficiary of Christian education, having been homeschooled, then earning his B.A. (History) from Union University and an M.A. (Medieval and Byzantine Studies) from the Catholic University of America before earning his J.D. at Harvard Law School. His writing has appeared in American Reformer, the American Mind and the Federalist, among other places. Josh lives with wife and three children in the Dallas, Texas area.