The Adams Park development will start its third and final phase of construction. Photos courtesy of Clement Tingley.
Finally back in action after the recession, a residential development on one of the city’s largest remaining pieces of privately owned forestland is moving toward completion.
Local developer Clement Tingley is seeking approval from the city of Richmond to complete the third and final section of his Adams Park neighborhood.
The third phase will consist of 80 single-family homes to be built on 17 acres abutting Iron Bridge Road and the Falling Creek Reservoir in the city’s very southern end.
Tingley is doing the work through his development company, Gusnpenel Inc. Ryan Homes, which also built the houses in the second section, will be the builder for the final phase.
The entire 87-acre Adams Park development already has 64 homes. Tingley purchased the land in 2002 and completed the first two sections by 2008. Work was put on hold when the recession hit.
“This is a risky business, and you can’t come in and try to develop when the margins are very slim because there are so many variables,” Tingley said.
The lots in the community’s second section – also developed by Ryan Homes – are about 20 feet wider than those planned in the last phase.
Tingley said the time is right to start work again. He expects to spend between $15,000 and $20,000 per lot and said he will use resources already available to him to finance.
The project, including construction, is likely to come in at around $30 million.
Tingley’s plan will leave 17 wooded acres untouched to support the wildlife that lives near the reservoir. The city has deemed that piece of land as “environmentally sensitive,” Tingley said.
“The land that is better for homes is not necessarily the environmentally sensitive area, so if you can work with the local government and try to preserve those areas, and yet build the same number of homes, there’s a win-win outcome for everyone,” Tingley said.
In order to fit the 80 homes on only 17 acres, the lots will each have an average width of between 60 and 70 feet. The lots in the first two sections have an average width of 90 feet.
“It will provide a more interesting streetscape,” Tingley said. “And it will allow for a greater price diversity within the community, so that creates the opportunity for economic diversity.”
Ryan Homes did not return calls for comment on the designs it has planned for the development.
The city has already approved the preliminary plans, and Tingley said construction plans should be filed by the end of the month and will only need to be approved by the city’s staff. If all the plans are approved, the first few lots should be completed by June.
Projects of this size, Tingley pointed out, have not been carried out in the far southern end of the city for several years. Tingley said he eventually hopes to start rebranding the area, renaming it the Upper Reservoir District.
Tingley is not the only one developing along a reservoir. StyleCraft Homes is working on a $7 million project along the Swift Creek Reservoir, and a former inn along the same reservoir is set to become a senior living facility.
The Adams Park development will start its third and final phase of construction. Photos courtesy of Clement Tingley.
Finally back in action after the recession, a residential development on one of the city’s largest remaining pieces of privately owned forestland is moving toward completion.
Local developer Clement Tingley is seeking approval from the city of Richmond to complete the third and final section of his Adams Park neighborhood.
The third phase will consist of 80 single-family homes to be built on 17 acres abutting Iron Bridge Road and the Falling Creek Reservoir in the city’s very southern end.
Tingley is doing the work through his development company, Gusnpenel Inc. Ryan Homes, which also built the houses in the second section, will be the builder for the final phase.
The entire 87-acre Adams Park development already has 64 homes. Tingley purchased the land in 2002 and completed the first two sections by 2008. Work was put on hold when the recession hit.
“This is a risky business, and you can’t come in and try to develop when the margins are very slim because there are so many variables,” Tingley said.
The lots in the community’s second section – also developed by Ryan Homes – are about 20 feet wider than those planned in the last phase.
Tingley said the time is right to start work again. He expects to spend between $15,000 and $20,000 per lot and said he will use resources already available to him to finance.
The project, including construction, is likely to come in at around $30 million.
Tingley’s plan will leave 17 wooded acres untouched to support the wildlife that lives near the reservoir. The city has deemed that piece of land as “environmentally sensitive,” Tingley said.
“The land that is better for homes is not necessarily the environmentally sensitive area, so if you can work with the local government and try to preserve those areas, and yet build the same number of homes, there’s a win-win outcome for everyone,” Tingley said.
In order to fit the 80 homes on only 17 acres, the lots will each have an average width of between 60 and 70 feet. The lots in the first two sections have an average width of 90 feet.
“It will provide a more interesting streetscape,” Tingley said. “And it will allow for a greater price diversity within the community, so that creates the opportunity for economic diversity.”
Ryan Homes did not return calls for comment on the designs it has planned for the development.
The city has already approved the preliminary plans, and Tingley said construction plans should be filed by the end of the month and will only need to be approved by the city’s staff. If all the plans are approved, the first few lots should be completed by June.
Projects of this size, Tingley pointed out, have not been carried out in the far southern end of the city for several years. Tingley said he eventually hopes to start rebranding the area, renaming it the Upper Reservoir District.
Tingley is not the only one developing along a reservoir. StyleCraft Homes is working on a $7 million project along the Swift Creek Reservoir, and a former inn along the same reservoir is set to become a senior living facility.