Regent Homes this week began converting to contracts from reservations for residences in its 21-unit condominium building planned for Berry Farms in Franklin.
Relatedly, the local development company on Dec. 31 closed on the purchase of the site on which the condo structure will be built.
David McGowan, Regent president, said the company has nine reservations and five firm contracts in hand for the approximately $4 million building, ground for which is slated to be broken by the end of the month.
“We will hit unheard of pricing for Franklin,” McGowan said, adding that one-bedroom units will start in the $150,000s and two-bedrooms will top out in the mid-$190,000s.
“We want to address an underserved market,” he said. “It is hard to find a new condo in or near Franklin for anything below $200,000.”
McGowan said the building is the first of several condo buildings Regent hopes to develop at Berry Farms. He noted the condos will be called “town center homes” as they will be located within the Berry Farms commercial district.
The building will feature universal design guidelines, which address access for disabled persons by including, for example, wide doors and a elevators. Units will include granite countertops, oil-rubbed bronze fixtures, crown molding and hardwood floors. Brentwood-based Reliant Bank is providing financing, while Smith Gee Studio, which is based in Nashville, is the architect.
Boyle Investment Co. is the developer for Berry Farms, with Regent Homes one of several builders. Regent has already built and sold 36 townhomes within the massive development. The portion of Berry Farms on which Regent is developing its condo building is called the Town Center and is located at the northeast quadrant of Interstate 65 and Goose Creek Bypass. (See a map here.)
“We are starting an additional 24 townhomes,” McGowan said. “Those lots should be available in May.”
The townhomes will range in price from $219,000 to $390,000.
“The demand is very high,” he said. “We have a waiting list of about 20 prospective buyers.”
Regent Homes also is developing an urban project, to be called Acklen at 24th Avenue, in Hillsboro Village. (Read more here.)
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