Ford Custom Classic Homes and CPS Land LLC paid $10.5 million for Holt-Witherspoon property
- Prices of the 153 homes at the estimated $200 million Witherspoon subdivision to average between $1.2 million and $1.3 million.
- Mike Ford Custom Homes, Legend Homes, Castle Homes and Stonegate Homes among homebuilders with contracts to buy lots to build custom homes.
Site work should start by late next month for a new 153-home subdivision called Witherspoon, which will bring million-dollar homes to a historic property in Brentwood.
A partnership of Ford Custom Classic Homes and CPS Land LLC recently paid $10.5 million for the 263-acre Holt-Witherspoon property. That site fronting Crockett Road near Arrowhead Drive is just east of Wilson Pike and up the street from The Governor’s Club private golf club community.
By year’s end, home construction is expected to start on the nearly $200 million Witherspoon executive/luxury home community. Homes will range in price from $800,000 to more than $2 million with lot sizes from a third of an acre to three acres.
Both Ford Custom Classic and CPS Land are known for developing planned, high-end communities. For instance, CPS Land was developer of the 181-home Annandale estate community on Overlook Circle in Brentwood where the average price of homes was around $1.25 million.
“Witherspoon — we see it being sort of a succession to Annandale,” said Rob Pease, development manager with Brentwood-based CPS Land.
“We think it’s going to be built relatively quickly just because there’s not a lot of other good options in Williamson County and in Brentwood. And with the location and coming up with the amenities and the packages we did at Annandale, we feel that it will sell out in five years.”
Rob Pease (Photo: Submitted)
Steve Fridrich, president of Fridrich & Clark Realty, sees a strong market in Brentwood and parts of Davidson County for high-end custom homes priced below $1.8 million.
“Buyers seem to still want the most up-to-date kitchens, the most up-to-date bathrooms, floor plans and outdoor spaces,” he said. “And with interest rates at an all-time low, it’s making it easier for buyers to purchase those homes.”
Witherspoon is expected to be built out in phases over five years with seven or eight builders expected to be involved, Pease said. Mike Ford Custom Homes, Legend Homes, Castle Homes and Stonegate Homes are the four already with contracts to buy lots to build custom homes.
Plans for Witherspoon include a roundabout near the main entrance to the community at Crockett and Arrowhead, which Pease sees improving traffic flow.
Roughly one and a quarter miles of paved public trails are also planned to connect Brentwood’s Raintree Forest neighborhood to Crockett Park and from Crockett Park to the border with the Oak Hall subdivision to the south. A pool house and clubhouse are among other amenities planned at Witherspoon.
A Brentwood area couple has bought eight acres and an historic house built on the Holt-Witherspoon property in 1835, Pease said. They plan to renovate and return the home to its original condition.
Pease said selling points for Witherspoon include good access to Interstate 65 for people who want to commute to Cool Springs and downtown Nashville and the subdivision’s proximity to services of Brentwood.
Separately, CPS Land’s Land Innovations LLC affiliate continues to assist developer Armistead Arnold Pollard with design, construction management and sales and marketing for the Você residential neighborhood on Nashville’s Granny White Pike.
Overall, 52 custom homes in the $1 million-plus price range are planned for that community across from Richland Country Club. To date, 13 home sites developed in the first two phases of 19 and six lots, respectively, have been sold with three more sales pending. Another 17 lots were recently completed in the third phase.
“There’s really not too many communities in Nashville at this price range that combine both living in the woods and the opportunity for a little more creative architectural expression, particularly leaning more toward more contemporary,” said Pease, Land Innovation’s executive vice president.
Reposted from The Tennessean. Reach Getahn Ward at 615-726-5968 and on Twitter @getahn.