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HOMEBUILDER PAYS $10.58M FOR SOUTH DAVIDSON LAND ZONED FOR 1,600 RESIDENCES

2017/10/03

A Nashville homebuilder has bought 331 acres in south Davidson County for $10.85 million with plans for a pair of communities with more than 1,600 residential units.

David McGowan expects the Burkitt Ridge and Carothers Farms communities to include workforce housing in the mid-$200,000s to low-$400,000s range, including live/work units. Plans also call for office/retail space at both walkable, mixed-use neighborhoods.

“We consider this area to be one of the highest job growth areas in Middle Tennessee,” McGowan of Nashville-based Regent Homes said about the area between Brentwood-Franklin, Smyrna-Antioch and downtown Nashville that he calls the Golden Triangle.

McGowan paid the Carter-Johnson family $5.85 million for 147 acres on Burkitt Road, east of Nolensville Pike in Antioch. That site has zoning that allows for 800 residential units including apartments, independent/assisted living units, townhomes condos and single family homes plus a fire station and 17,000 square feet of office and retail space.

Pending obtaining construction permits, McGowan expects to start site work in early next spring toward building the estimated $250 million Burkitt Ridge community over eight to 10 years. The land is across from Regent Homes’ Burkitt Springs community.

Separately, McGowan paid Walton Development and Management $5 million for 184 acres adjoining Cane Ridge Park off Battle and Burkitt roads near Interstate 24 in Cane Ridge for his latest project at Carothers Farms, which he rebranded from Carothers Crossings. The master plan allows for 800 homes including live/work units, 20,000 square feet of office and retail space, a school, walking trails and a community garden.

McGowan’s Regent Homes also has an option to acquire another roughly 158 acres at Carothers Farms over the next two years. That would allow the homebuilder to build another 1,000 residential housing units plus 180,000 additional square feet of office and retail space at that subdivision where Regent Homes already built and sold 60 homes.

This article originally appeared on Tennessean.