The Heritage Walk is not called that for no reason.
The East Brainerd development, which began three years ago with 80 apartments, is now set to expand by another 120 units and offer connectivity, said Jeremy Fitzsimmons, vice president of developer GreenTech Homes.
When completed, Heritage Walk will feature more than 5 miles of shared green space, as well as wooded walking paths and sidewalks, he said.
“We want walkable connections and public spaces in the community,” Fitzsimmons said in an interview at the East Brainerd and Jenkins road project, the total value of which when completed will be about $110 million.
(READ MORE: Heritage Walk gets green light for Phase 2)
Heritage Walk offers a network of trails that lead through 15 hectares of protected forest area that will not be developed, he added. And the area is adjacent to Heritage Park.
“It’s a purposeful walk,” Fitzsimmons said, noting that not only the park and playground but also nearby retail stores are accessible.
Prices for homes in the new phase of Heritage Walk start in the $400,000s, he said. The first wave of lots will be available this month, offering early buyers prime lot selection and incentives, the GreenTech representative said.
The timing is good, Fitzsimmons said, as interest rates are already starting to fall.
(SUBSCRIBE: Get breaking Chattanooga area news, sports and entertainment delivered straight to your inbox. Sign up for our free newsletters at timesfreepress.com/newsletters.)
Chattanooga-based real estate agent Jay Robinson of Keller Williams’ Robinson Team said lower interest rates would boost housing construction overall.
“This will not solve the inventory problems,” he said in a telephone interview last week. “It will keep the market moving.”
After the Great Recession of 2007-08, there was hardly any residential construction, Robinson said.
“There is not enough housing in the United States,” he said.
In the popular East Brainerd neighborhood, developers continue to propose hundreds of new building lots, despite concerns raised by residents and politicians about traffic and other issues.
(READ MORE: Growth in East Brainerd raises concerns)
Fitzsimmons said that because of its design, Heritage Walk is a place where fewer people get in their cars.
“It gets people off the streets,” he said.
Fitzsimmons called the development an example of the use of what he called traditional neighborhood design, a design that combines past suburban planning principles with modern living standards.
“This is a thoughtful design,” said GreenTech’s vice president, adding that “there’s a lot of porch living. We want the communities we develop… to be thoughtfully designed.”
The second phase will feature units ranging from 140 to 280 square metres, he said.
“We try to achieve as much diversity as possible,” Fitzsimmons said.
He said over 90% of Chattanooga-based GreenTech’s sales are based on pre-orders, allowing buyers to design their homes to suit their lifestyle.
“Six months and you’re in,” Fitzsimmons said.
Contact Mike Pare at [email protected] or 423-757-6318.
