Working within the limits of its urban growth boundary, the Collegedale City Commission voted Monday to annex nine new parcels of land, a move City Manager Ted Rogers said could generate new tax revenue for the city.
"As adjacent as we are to Enterprise South, it's in the city's best interest and at times, the homeowner or landowner's best interest to be in a municipality that receives good services," Mr. Rogers said. "(Because) they have an opportunity to make a healthy profit on their land if they choose to sell ... it's really a win-win."
City services will be extended to the new properties, but sewer service will be provided only as funds permit, Mr. Rogers said.
While most of the land is commercial property along Lee Highway and Apison Pike, five of the tracts approved for annexation are residences along Apison Pike near C&P Enterprises. The commission voted to rezone these parcels commercial. Land along Apison Pike is expected to increase in value once the state replaces the two-lane road with a five-lane highway, according to building codes official Tim Elliott.
"If the citizens accept this (commercial zoning), that property has doubled in value versus agricultural, residential," he said. "The state (of Tennessee) gives them a lot more money for it."
The annexation also includes a 10-acre parcel near the new baseball fields belonging to North American Development Group, one of the largest retail developers in North America. Russell Medwyk, a company representative from Franklin, Tenn., declined to offer details about future plans for the property, but Mayor John Turner said the proposed development likely will be mixed use with commercial out front and residential behind.