The Shadden Springs development, halfway between Boones Creek and Gray, is expected to offer 55 lots in the first phase, although the developers have an option on 100 more adjoining acres. (Photo Contributed)
Four real estate developers hope widespread interest in a 55-lot subdivision they’re undertaking is a sign the local economy is on the rebound.
“I’ve had more interest in this new development than anything I have done in the last 20 years,” Joe Wilson, one of the investors in the proposed Shadden Springs neighborhood, said Friday.
If the rezoning request — from General Agriculture to Low Density Residential — is approved by the Washington County Planning Commission on Tuesday, the new single-family homes will be built on what is now farmland at the corner of Shadden Road and Hales Chapel Road, halfway between Suncrest Drive in Gray and Boones Creek Road.
Wilson said the three-bedroom houses on the 52 acres will be priced between $275,000 and $375,000, a price point the area is ready for, he said.
“We followed the number of homes being sold and the price range they were being sold in,” he said. “We’re wanting to meet the demands of Washington County and Johnson City, with new jobs that are supposed to be coming in this direction and the wages that are coming with them.”
Wilson, along with fellow investors Ron Gouge, Carl Little and Planning Commission member Mark Larkey, have an adjoining 150 acres under option, ready to quickly add on to the new neighborhood if the houses are in high demand.
“If you look at a map of the county, you can see where all the development is, where the future of the school systems are,” he said. “We’re trying to listen to the heartbeat of the county, to what it’s telling us.”
If approved, Shadden Springs will be just outside the Johnson City limits near an area that saw a rapid growth of new home construction before 2008’s recession.
There haven’t been many new homes built in the subsequent seven years, so Wilson and his group are betting that the dearth of lots on the market will work to their advantage.
One uncertain aspect to development so close to the city line is the state’s newfound interest in annexation and what it might mean for Johnson City’s growth.
As it stands, the property is serviced by municipal water, but not sewer.
“With the new state regulations, we’re not sure what’s going to be allowed to be done,” Wilson said. “We and everybody else are waiting to see what’s going to happen with the city so close already.”comments powered by Disqus