Saw where Russell Lands is developing property where the former Russell Ferry Estates was. There are 44 waterfront homes around $500,000 - between 1400-2000 square feet. Hopefully this will generate a restaurant where we can go with our boats.
$ 275.00-$350.00 a sq ft--what a bargain--no garage//no carport// less than 1/4 acre lot, probably 60 ft water frontage--thanks but i'll pass--no idea where they come up with their lot value? maybe draw out of a candy jar ? for that price they should offer valet parking & concierge services
Not Russell Lands from what I understand. Same developers of Cedar Point by Kowaliga came to them wanting to buy the property to develop. RL may be the agent on the property though...
A Birmingham real estate development group is planning new homes at Lake Martin.
Canvasback Management, which built the Cedar Point project, said it has acquired 74.97 acres on Lake Martin from Russell Corp. on which it plans a 44-lot development called White Oak Landing.
Financial terms of the deal were not disclosed, but the property is in the city limits of Alexander City.
Canvasback Management’s David Nelson told the BBJ that the group has been working on this deal for 18 months.
“It’s a great piece of land, and the location in Alex City means it is closer to Birmingham – only about 75 minutes,” Nelson said, adding that being in Alexander City means there is easy access to dining and shopping.
Phase one of White Oak Landing will be 25 lots, and pricing and plans for those is expected to be available toward the end of this month. Pricing for a lot, a house, a pier and a seawall (if needed) start at $500,000, according to information provided by Canvasback Management.
Nelson said one great thing about this project is that each site has 100 feet of waterfront, which means the homes can have full-size docks, not community docks.
Information about the project shows that architects Mitch Ginn, Larry Furlong and Micahel O’Kelley will be a part of the home design at White Oak Landing.
Nelson said the development also could appeal to those who want to live at the lake and work in Auburn, or who want an opportunity for a gameday condo on the lake, as opposed to in Auburn.