JARRETT GOODMAN
Staff Writer
The Board of Mayor and Commissioners in South Pittsburg recently gave the go-ahead for the purchase of land on the southern end of the city by Riverstone Construction LLC.
Jason Farmer, co-owner and real estate developer for Riverstone Construction based in Chattanooga, reached out earlier this month to City Administrator Michael Hudson about purchasing property located near Irondale and Chance Roads. Farmer explained to the Board during this month’s meeting that the company had been involved with the property in the past, particularly while working with surveyor Danny Dancy and engineer Mark Heinzer. He stated that Riverstone currently has a buyer interested in the land, which is set to be divided into 38 separate lots to make way for a new subdivision within the city.
Farmer also noted that, upon acquiring the property, Riverstone Construction would take full responsibility for the infrastructure, including the installation of all required water and sewer lines. The company will handle all construction and cover the associated infrastructural costs. He added that once requirements from the Tennessee Department of Environment and Conservation (TDEC) for water and erosion control are met, the company plans to sell each lot to contractors interested in building homes. The projected value of each home is expected to average around $300,000, depending on the local market.
When asked by Mayor Shawn Hensen about the timeline for building out the subdivision, Farmer explained that it depends on market conditions, but the plan is to build all 38 homes within 24 months of the first home closing. Any remaining acreage within the subdivision could be held for future auction or further development. City Administrator Michael Hudson noted that Riverstone is required to obtain an appraisal before work can officially begin.
Commissioner Beth Duggar raised concerns about the density of the development, stating that limited yard space might restrict outdoor play areas for children. “These people are going to have a lot of kids that live in this area, and I think they need a playground down there instead of just playing in a small yard that circles their house,” said Duggar. Her concerns were addressed, and it was stated that enough space will remain available for a possible playground.
The Board of Mayor and Commissioners ultimately approved Riverstone Construction’s purchase of the property, contingent upon appraisal, proper permitting, and a 30-day due diligence period. The first motion was made by Vice Mayor Matt Stone, followed by a second motion from Commissioner Mike Allen, and was officially unanimously approved.
