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 AND GRAY, Tenn. (WJHL) — The area’s apartment stock is increasing and builder Jason Day is in on the action with projects in Jonesborough and Gray that will bring a total of 203 units onto the market.
“We basically decided the new starter home’s going to be an apartment,” Day told News Channel 11 of his decision to add apartments to his portfolio of mostly single-family construction.
The first few units are complete at Day’s “Alder’s Grove” development on Boone’s Creek Road just outside Jonesborough. Alders Grove will feature a total of 95 one-level units, each with two bedrooms, a bath-and-half and a one-car garage.
Day said 26 units are under roof at this point. As evidence of the high demand, he pointed to his company already having received 32 applications for Alder’s Grove.
“It’s difficult to find lower-priced homes in the area,” Day said.
He anticipates renting the Alder’s Grove apartments for $1,650 a month and the Midlands for $1,750.
In addition to the Boones Creek Road project, which sits on 12.5 acres, Day has begun grading for a very similar complex of 108 units on Tenn. Highway 75 in Gray near its intersection with Gray Station Road.
“The Midlands” sits on 14 acres and Day hopes to begin construction within a couple of months.
“I hope to have some occupancy by the end of this year,” Day said. If that seems aggressive, note that he started on the Alder’s Grove project just five months ago.
WHAT: Two new apartment complexes featuring a total of 203 units on 26 acres.
WHERE: 1107 Boones Creek Road in Jonesborough and Suncrest Drive in Gray near Gray Station Road.
WHO: Jason Day Construction. The Suncrest Drive property was purchased for $1 million in July 2022.
WHEN: First apartments of 95 in Jonesborough are going on line now. Grading is underway at Gray with some construction expected to be done by the end of 2023.
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.