Andre Newman shows off his real estate for auction overlooking Soddy Lake.
Photo by Katie WardSoddy-Daisy resident Andre Newman is auctioning off property overlooking Soddy Lake where the former Colonial Inn once stood and adjacent properties totaling about 6 acres June 19 at 10 a.m.
Newman originally had plans to develop the land into a residential community before economic conditions prevented him moving forward.
“I borrowed enough money, $250,000, to purchase the property behind the motel three years ago,” said Newman. “Now it is six acres around the motel on six parcels of property. I wanted to make it a prime piece of property for something better.”
After paying off the purchase of Colonial Inn in 2002, Newman began dreaming of what to do with the land on the hill. In the last year, Newman worked alongside an architect to produce artist renderings of 37 townhouses to be called Cape Townhomes of Soddy-Daisy, a name derived from his native Cape Town, South Africa.
“You won’t find a better view than this one,” said Newman. “We’re the only one with Soddy Lake.”