Work starts on 345-acre Stream Valley community in Franklin
By Nevin Batiwalla - Nashville Business Journal
June 20, 2012
Residential development is underway on Stream Valley, a massive mixed-use project in southern Williamson County.
In April, Tower Investments LLC and Tennessee Contractors Inc. paid $5.8 million for the 345-acre planned community near the intersection of Goose Creek Bypass and Lewisburg Pike in Franklin.
The land is zoned for 824 single-family homes, best replica watches 240 condos/apartments, 290,000 square feet of office space and 10,000 square feet of retail. The planned community is located near Boyle Investment Company's mixed-use Berry Farms development.
This week, the two firms announced they have sold 80 percent of the remaining lots to Ryan Homes (NYSE: NVR), which has begun building model homes and pre-selling new homes ranging from $300,000 to the $400,000s. Seventy-five lots are ready for development.
"Stream Valley is proof that the Williamson County housing market continues to improve," said Alex Marks, vice president of Tower Investments, in a news release. "Its natural beauty, proximity to new retail and interstate access to I-65 and I-840 will undoubtedly appeal to new home buyers.”
The plan is to sell more of the land to multi-family and commercial developers, Marks said.