August 1, 2017 - A joint venture of Craighead Development and Ole South Properties is poised to build 500 homes in Hermitage with yesterday's purchase of a 285-acre farm at 4020 Hickory Hill Lane.
As reported by The Tennessean, Metro Council granted Craighead/Ole South rezoning approvals just last week. With Metro's stamp of approval, the developers can realize their vision of a vibrant community for adults in the 55-and-up age range. The single-family homes will be priced between $350,000 and $450,000. Amenities will include a pool, clubhouse, fitness center, and walking trails.
The site is bordered on one side by the scenic Cumberland River. The buyers have indicated that they will gift 140 acres to Metro Parks for the creation of a public park.
Richard Fulton and Shane Douglas of Colliers International's Nashville office represented the seller, a family who has owned the land for several generations. Shane commented, "The rezoning process and sale took 5 years of collective effort with numerous Nashville city leaders. The family appreciates knowing that property history will be respected as the land is mindfully transitioned into an incredible community." Shane also noted that the project addresses Nashville's notably short supply of housing for active seniors.
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