Regent Homes yesterday sold the last of 12 units in its The Carolina condominium building now fully under construction in Westhaven in Franklin.
David McGowan, Regent Homes president, said the three-story building is framed and work has begun on the mechanicals and the exterior (see construction photo below). The company hopes to have the first residents move into the building (a rendering for which is seen below as the middle image) in December.
Relatedly, Regent Homes is planning The Alexandria, which will be located next to The Carolina. McGowan said the company received approval for the 12-unit condo building (a rendering is seen at the bottom of the three images below) last week from the Franklin Planning Commission.
“Now we have to finalize the construction documents, which we are in the process of doing,” he said. “We hope to be under construction by the end of the year.”
The first multi-unit building in Westhaven was The Vista, which opened this past September. Its 12 units sold within a year’s time, McGowan said.
Franklin Synergy Bank President Richard Herrington is looking to raise $15 million from institutional investors before the end of the year to lay the foundations for the six-year-old bank's next growth spurt. The bank's leaders are starting to prepare for an initial public offering but want to wait until they get close to $1 billion in assets. At its recent growth pace, the bank should get in the vicinity of that number by 2016.
Land use planning firms from Colorado and North Carolina are in the running to lead a wide-ranging update to the City of Brentwood's 2020 Plan. The city is planning to spend $200,000 on the project and will host the process' first public meeting late this year with surveys to follow in early 2014.
Updating the project will also include a Major Thoroughfare Plan that will be designed by a separate entity partnered with the selected firm. Clarion Associates plans to work the engineering firm Neel-Schaffer and MIG selected RPM Transportation Consultants. Because the need for future road improvements will be dictated by changes to the 2020 Plan, the Major Thoroughfare Plan is a complementary component.
The Williamson County Planning Commission has preliminarily approved plans by local development veteran Bob Parks to build 20 homes along old Hillsboro Road in northwest Franklin. The proposal had drawn the ire of local preservationists but they appear to have been unable to stop Parks. Instead, NewsChannel 5's Todd Walker reports, a number of them have agreed to rezone their properties to prevent future developments like Parks'.
Collierville-based Landmark Community Bank has signed a deal to take over the deposits and most of the loans of Cadence Bank's two local branches, Nashville Business Journal's Eric Snyder reports. The offices in Brentwood and Franklin are set to change hands next spring. Landmark, which will later this month open its first local office on Music Row, finished the first half with assets of $439 million and a profit of almost $1.9 million. The latter was up 70 percent from 2012.