Real estate exec instrumental in Village Park joins Carlsbad firm

North Coast Current

A longtime real estate industry executive with ties to the original development of Village Park in Encinitas has joined the ARAMCO Group, a Carlsbad-based real estate finance company, the firm announced Feb. 19 in a news release.

Jack H. Dimond
Jack H. Dimond

In its announcement, ARAMCO highlighted Jack H. Dimond’s 48 years in homebuilding and real estate, including his work to stem extreme regulation of the industry. ARAMCO cited his successful work in Boca Raton, Fla., to stop that city’s efforts to enact development caps in the 1970s.

“Voters passed a referendum imposing a 40,000 dwelling-unit growth cap to limit the city’s expansion,” according to an account about the case, Arvida v. Boca Raton, from the Historical Society of Palm Beach County. “In 1976 a Palm Beach County Circuit Court judge ruled the cap an arbitrary figure but allowed it to remain until all legal appeals were exhausted.”

Boca Raton approved land-use regulations in 1979 that set density limits on all properties in the city as part of its growth management goals, the historical society’s account states. Developer Arvida sued. Lower courts found in favor of Arvida, according to legal documents and other accounts. Boca Raton appealed to the state and U.S. Supreme Courts before dropping litigation in 1980, according to the historical society.

“It was prototypical nimbyism (not in my back yard),” Dimond stated in ARAMCO’s news release. “It was the culture these people had, and it caused dangerous, unprogressive things to happen.

“I wish irrationality was all we had to prove every time during our motions to halt government overreach. Unfortunately it is not always that straight forward,” Dimond also stated in the announcement.

Dimond’s involvement in building North County neighborhoods dates back to the early 1970s. He was a vice president with Avco Community Developers, the builder of Village Park in Encinitas, according to public documents.

In its announcement, ARAMCO highlighted Dimond’s work in launching Village Park. His background is a strong fit for ARAMCO, according to Mehran Aram, the firm’s president.

“I love this industry. I recognize the same verve in Mr. Dimond,” Aram stated in the news release. “This is why we are so excited to make him part of the team here, as his expertise will help us serve our clients best.”

The ARAMCO Group is made up of several divisions, according to the firm. ARAMCO Mortgage offers mortgage financing for homebuyers and those seeking to refinance home loans. ARAMCO Financial deals with government-insured reverse mortgages for seniors. ARAMCO Properties is a real estate division that represents buyers and sellers, and coordinates short sales and lender-owned properties.