Plan for Ooltewah luxury neighborhood takes shape

Plan for Ooltewah luxury neighborhood takes shape

July 3rd, 2011 by Ellis Smith in Business Around the Region

• Name: Cambridge Square

• Location: The new Ooltewah development consists of 135 acres bordered on one side by Lee Highway and on the other by the Honors Golf Course. The retail and residential development is zoned for Ooltewah Elementary, Middle and High schools, and is on land that has remained undisturbed in spite of the growth of surrounding development. The property is being developed to avoid disturbing the natural aesthetic that gives the golf course its character.

• Status: The project is still in the preliminary stage of earth and infrastructure work, and preparing to begin road construction and building pad development toward the end of summer.

• Price: Phase 1, encompassing the commercial and retail space on the property is estimated to cost $10 million. While pricing has yet to be determined for the residential phases, developers anticipate both amenities and prices to be at the higher end of Ooltewah's market average.

• Features: The mixed-use community will include commercial, retail and residential districts, enabling residents to live, work and play within the same general area. The neighborhood has strict architectural standards, open spaces, walking trails and plentiful sidewalks.

• Developers: Barrier Properties and River Street Architecture are designing and overseeing the project.

• Builders: Contractor Barry Payne is the designated builder for Cambridge Square.

• Contact: Jim Cheney - 615-202-8936