Crescent Resources has acquired 221 acres for development of a residential community to be located between Cool Springs and Berry Farms.
Planning is under way for Lockwood Glen, a master-planned community of up to 384 for-sale homes and 240 apartment units. The first phase — comprising 70 single-family homes and 27 townhomes — will begin in March.
The Lockwood Glen site is located along the east side of Interstate 65, about a mile south of Murfreesboro Road, and includes one mile of frontage on the Carothers Parkway extension.
In late December, Crescent paid $7.485 million for the land from South Carothers Partners.
Crescent announced builders Celebration Homes, Goodall Homes and Regent Homes of Nashville have committed to purchasing all 97 homesites in the first phase. Officials expect the first homes, with prices starting in the low- to mid-$200s, to be complete in early 2014.