Fairview is a small town only about 9 square miles in size and with all the recent development, there just aren’t many tracts of raw land left. This tract of land has always intrigued me. I’ve looked at it on Google maps countless times and wondered with such a premier location, wedged between two high end custom home developments, when someone would finally figure out a way to develop it.
So why did it take so long being so strategically located? Of course, the asking price was a major consideration, but there were 0ther challenges too.
First, as can see from the aerial, the tract is land locked. There’s no way out on the north nor south side. But it is situated between two of Fairview’s premier estate developments, Oakwood Estates to the west and Stone Creek to the East. Both developments have streets that dead-end right into it so it seems a natural for a developer to just link up those two streets. The problem is, neither Oakwood Estates nor Stone Creek residents wanted that to happen, so it didn’t.
Zoning was another challenge that had to be dealt with. In order for developers to pay that much for land (I don’t know the sale price, but I’m sure it was at the top end) they needed higher density zoning (homes on smaller lots). But the town of Fairview wanted lower density (homes on larger lots).
LandPlan, the developer of both Tranquility Farms and Chamberlain Place in Fairview almost made it happen several years ago, but I was told his negotiations with Oakwood Estates residents broke down at the 11th hour. I won’t go into that story, but the developer told me he was so frustrated with the entire process he just backed away completely.
The current developer wears a second hat as a high end custom builder and will be building all of the homes. That probably allowed him to pay more for the land. I was told they might be breaking ground as early later this year and will be ready to start building homes in 2018.
By the way, to satisfy the Oakwood residents, they will not link the two streets up which would bring traffic through Oakwood. The single entrance will be where Maple Creek Dr. in Stone Creek dead ends into the property. The street on the Oakwood Estates side (Country Trail) will only have a break through gate for emergency fire equipment. Unfortunately, it looks like Stone Creek is going to bear the brunt of construction vehicles for some time to come.
The developer said the lots will start at around $425K and go up to $725K for the largest lot. Those prices are very comparable to a development we are marketing in Fairview called Oak Meadows. We started out with 10 lots a year ago and there are only 2 remaining.