Bridge Builders Award
For his commitment to ensuring livable communities for generations to come through the conservation and sustainable use of forestland
There are count
less factors that affect the quality of life and sustainability of our communities but perhaps none is more widely shared or consequential than the way in which we use our land. Existing communities have largely taken their shape from the continued struggle between profitable and environmentally responsible uses of our natural terrain. Profoundly aware of this competition, Peter Stein has dedicated a lifetime of advocacy and expertise to intelligent land stewardship. His leadership has contributed to both the nonprofit and the corporate worlds and though he has worked on different sides of the fence, Stein’s career has proven that profitable and sustainable development can work as one. After graduating from the University of California at Santa Cruz, Stein joined the Trust for Public Land (TPL), a national, nonprofit, land conservation organization. Rising to become TPL’s director of conservation real estate acquisitions in the Northeast and Midwest, Stein found himself working with the Lyme Timber Company on a conservation deal in Virginia. Soon after key lands were put aside under permanent protection, Lyme Timber offered him a job. Stein was intrigued by the company’s increased purchasing power and resources and agreed to come on board to further protect vital lands across the U.S.
As managing director of Lyme, Stein leads the company in identifying and developing conservation-oriented forestland. Unlike many timber companies following a large investment in land, Lyme does not divide up the property to be sold to real estate developers to gain a quick (yet often unpredictable) return. Instead, the company works with nonprofits and state agencies to ensure a return on their investment by selling them conservation easements on the land. Because of Lyme’s willingness to adhere to this model, organizations such as the Trust for Public Land often point the company toward areas with high conservation value, a perk not enjoyed by most other timber companies.
Due to Lyme’s commitment to work closely with the communities in which they purchase land, Stein also has access to lenders who qualify for new market tax credits, which are federally allotted to designated community development organizations. By working with local groups and pledging to protect existing jobs generated by the forest, Stein’s team often receives the tax credit benefit in the form of below-market-rate loans from these qualified lenders.
Though Stein’s methods were cutting-edge when he first joined Lyme Timber, they have since been successfully emulated throughout the country. Now with nearly 90 conservation partnerships under his belt, Peter Stein has established himself as a leading force in creating a new business model for sustainable and profitable forestland investment.