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The Battery targets money-wise with ‘affordable’ Farragut option


A subdivision in Farragut is changing its prices and concept to be more in line with homebuyers who are doing a little penny-pinching after the recession.

The Battery at Berkeley Park, off Grigsby Chapel Road, is lowering lot prices from starting at $160,000 to starting at $49,900, and reducing home building costs from more than $750,000 to closer to $269,900.

“The new concept is still going to be your more traditional home structure that fits in with the existing Berkeley Park homes. The main thing we’re trying to do with the status of the economy, and the status of things in the last years in the real estate market, is try to put together a new construction that is affordable for people to still be in the Farragut school system and Farragut community,” said Chris Gibbs, of marketing with Farragut Holdings LLC, the company that is developing The Battery.

A grand-opening event for the new concept will be held at 11 a.m., Saturday, March 5, for interested property owners.


“Based on our market research, we don’t think there’s anything in the city of Farragut, new construction, that is this quality that comes close [to the price],” Gibbs said.

Although prices are going to be lower, Gibbs said square footage of the homes wouldn’t change.

“It will still meet the minimum requirements that existed before ... 2,400 on the first level; 2,700 when it reaches one-and-a-half stories,” Gibbs said.

None of the 49 lots left in the subdivision have a price of more than $100,000, Gibbs said. The subdivision features completed infrastructure, three owner-occupied homes, a clubhouse, pool and walking trails.

Gibbs said developer Ken Daniels was going to be able to offer the new pricing structure because of a new partnership with Saddlebrook Homes.

“Because of them, we’re able to offer new home construction at great prices,” Gibbs said.

Bob Mohney, president of Saddlebrook, said, “the homes will be unique with certain lifestyles in mind.”

The homes will follow a traditional Craftsman style of construction with open floor plans, kitchen islands and granite countertops.

“The homes are designed for family living with the flexibility to customize each home,” Mohney said.

“Saddlebrook has built over 2,500 homes in the last 24 years and we are passionate about continuing to build our reputation through our products.

Daniels bought the unsold lots in The Battery at Berkeley Park in 2007, and is a homeowner in the subdivision himself.

Gibbs stressed that nothing in the subdivision was a foreclosure property.

“It’s very financially stable through Mr. Daniels,” Gibbs said.

For more information on the subdivision, call Farragut Holdings LLC at 865-862-8012.

 

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