Developer Jim Clark has begun construction on the third phase of his 60-acre Central subdivision, Twin Lakes Estates. The development is less than three years old, but already the 49-lot first phase is sold out and so have all but three of the 34 lots in phase two.
Clarke says demand for new construction in that area is in the $300,000 to $400,000 price range. “We haven’t even had time to advertise,” he says.
So far only infrastructure work is underway on the 35-lot third phase of Twin Lakes Estates, which is located on Denham Road near Greenwell Springs Road. But Clark has contracted with several independent builders, who will begin home construction later this spring. Those same builders—Dwayne Gafford, Casey Patterson, Justin Jackson, Don Biggs and Pete Pocorella—developed the homes in the first two phases. Clark says in a market that is increasingly competitive for independent builders he is happy to sell them lots.
“The independent builders are being squeezed out by DR Horton, Level and DSLD, and they can’t get any lots,” he says. “I’ve been a builder my whole life, and I know how hard it is to get good lots at a good price.”
The average lot size in Twin Lakes Estates is 80 feet by 145 feet, and they have been priced around $60,000. Homes are priced between $320,000 and $380,000. The subdivision has 12 acres of green space and a lake fully stocked with bass and sac-au-lait.
“It’s a nice development and a really strong market,” he says. “We’re only two or three minutes from that brand new middle school, and we’re convenient to the high school … so this area is very strong.”
—Stephanie Riegel
