Laurel Cove Halted

By
Real Estate Agent with Benchmark Realty LLc License# 00285925

Laurel Cove construction is halted according to the nashville business journal, Problems with the investment banking firm,  Lehman Brothers Holdings Inc. last month has halted construction of Laurel Cove, the Greg Normal golf community in Williamson County,

Laurel Cove -  is one of the largest active residential projects in Middle Tennessee  at 1120 acres and will be on hold indefinitely after the bankrupt Lehman defaulted on its $121 million construction loan for the project.

Laurle Cove's  developers, Tentara Partners and Legacy Properties, say construction will be delayed while they work on assuming the existing loan from Lehman.

"We want to assure the public that Lehman Brothers Holdings Inc. has no ownership in the project," Philip Jones, president of Tentara Partners, says in a statement to the Nashville Business Journal. "We anticipate a four to five month complicated negotiating process with the Lehman Bankruptcy Trustee."

If you are interested in golf course homes in Williamson county, click on the button. or call Larry Brewer at Benchmark realty 615-512-7853.

**************Update as of 1/24/2012*****************

Now, Texas-based Terra Verde Group has taken over the project with plans to invest $750 million to build 800 homes, The Tennessean reports. Terra Verde has renamed the neighborhood. Terra Verde plans to break ground on the first home this spring, and hopes to complete 30 by year's end. Homes are expected to be priced from $500,000 to $1 million.

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For the most-up-to-date information on Laurel Cove current home values, then we urge you to contact us. We can assist you with all aspects of buying or selling real property in this and other neighborhoods in the Nashville Metro area. Also ask to be placed on an instant notification system when any new Laurel cove MLS listings come on the market or price reductions in Laurel Cove are posted.

 Benchmark realty can assist buyers in all forms of Nashville relocation needs including new construction houses, condos, townhouses, for sale by owner homes, residential lots, townhomes, lofts, and new homes in various subdivisions across the Nashville Metro region. If you are interested in foreclosure homes including pre-foreclosures, short sales, REO properties, bank owned properties and other types of foreclosure properties, then we can assist you. If you’re searching for Nashville foreclosures in Laurel Cove or neighboring communities, then we invite you to view the listings in this or any of the Nashville popular subdivisions on our site. And if you’re searching for condos or townhomes for sale in the Nashville area, feel free to browse our updated listings of Nashville condos, townhouses, townhomes, lofts on our site. information on this page is based on information on single family homes for sale in Laurel Cove subdivision in Nashville per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed.

 

Terra Verde plans to break ground on the first home this spring, and hopes to complete 30 by year's end. Homes are expected to be priced from $500,000 to $1 million.

  

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Anonymous
Anonymous

Interesting post, Larry.  Thanks.  I had no idea the Lehman Bros. failure reached all the way to us here in Franklin.  Hope they can get it straghtened out soon!

Hope you got to enjoy Pumpkinfest today in downtown.  Our family also went and got a pumpkin from Gentry's farm...very fun!

Oct 25, 2008 06:54 PM #1
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Rainmaker
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Larry Brewer

Nashville Real Estate
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