Editor’s Note: The Tri-Cities is growing and News Channel 11 wants to keep you informed of new construction underway commercially and residentially. News Channel 11’s 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) — More than two dozen single-family homes are at various stages of completion not far from the site of Jonesborough’s under-construction K-8 school.
A new road, “Riddle Ridge,” was built off of Anderson Road just north of the Ingle’s Supermarket on Highway 11-E. Kelly Wolfe of Wolfe Development said 28 homes will have taken the place of an open field by the time the project is done.
“We’ll wrap it up next year,” Wolfe told News Channel 11. “We’re pacing ourselves a little bit there and not getting too far out in front on purchasing things before we need them because we see the trend moving toward prices dropping.”
Property records show two of the homes have sold already.
WHAT: A 28-lot single-family subdivision on 20 acres. Homes built so far range from 1,444 square feet to 2,178 square feet. Wolfe says most will be 1,600-2,000 square feet with three bedrooms, 2.5 baths.
WHERE: Riddle Ridge Road (new road off Anderson Road, connects with TN Highway 81N)
WHO: Wolfe Development and Whitney Riddle (Wolfe paid $162,000 for the property in January 2021.)
WHEN: Building permits for the first eight homes were obtained April 28, 2022. Eight more permits were pulled in April and June. Two homes have sold, one for $325,000 and one for $353,000.
YOUR TAX BENEFIT: About $65,000 annually in property taxes (Washington County and Jonesborough combined) based on an average tax appraisal value of $275,000.
NEXT WEEK: National builder’s huge residential project in Kingsport.