Editor’s Note: The Tri-Cities is growing and News Channel 11 wants to keep you informed of new construction underway commercially and residentially. Our weekly series “Who’s Building That?” uses public documents, research, community connections and hard work to bring you information about who’s building or renovating what, where, and for what use. You’ll also get facts and figures about project costs and potential property tax revenue as well as trend data. Don’t drive by and wonder anymore!
JONESBOROUGH, Tenn. (WJHL) — Seventeen acres of land a stone’s throw from the new Jonesborough K-8 school is going to become “Saylor’s Place,” a 137-unit townhome development.
The three and four-bedroom homes will start at about $230,000 with even the higher-priced homes starting at around $250,000.
National homebuilder D.R. Horton will start construction this month on property Land Star Partners bought from Roy Saylor in November 2011. Land Star, a frequent partner of D.R. Horton that often purchases land and provides initial infrastructure work, paid $497,932 for the property.
D.R. Horton spokesman Barak Saltzman said construction should begin this month and is expected to take about 24 months.
The company plans to build two-story townhomes that will feature single car garages and range in size from 1,300 to 1,550 square feet. Saltzman said Jonesborough, like many other areas of Northeast Tennessee, “is desperately in need” of homes available for less than $300,000.
“D.R. Horton’s Northeast Tennessee division is intensely focused on delivering quality homes at affordable price points,” Saltzman said.
He also said the region overall “continues to be under supplied by a significant number of homes, and D.R. Horton’s Northeast Tennessee division hopes to be a big part of the solution.”
WHAT: 137 new townhomes on 17 acres.
WHERE: North Cherokee Street (600 block), Jonesborough (near new Jonesborough School).
WHO: D.R. Horton. Infrastructure work/land development by Land Star Partners, which purchased the raw land for $497,932 in November 2021.
WHEN: First townhomes to be constructed starting in June 2023. Project is expected to take about two years to complete.
YOUR TAX BENEFIT: Based on the estimated assessed value of $25 million for The Midlands and $24 million for Alder’s Grove, the projects would generate about $420,000 annually in Washington County property taxes, $115,000 in Jonesborough property taxes and $173,000 in Johnson City property taxes.