Lakefront Development Property for Marina & Condominium Sales potential to gross $40million+, ideal location Start Price - Current Price - Time Left - Bid Count 0 Buy It Now Price - Reserve Price - Start Time Tuesday, August 05, 2008 End Time Monday, November 03, 2008 Location Buchanan, TN See more about 'Lakefront Development Property for Marina & Condominium' Description We have decided to market our 6.7 acre parcel located at the intersection of Coast Guard Road and Riverdale Road in Buchanan, TN. This can be an outright sale or we will consider taking in investors in order to proceed with this project. Preliminary plans and drawings have been made for this property. 84 luxury condominium units can be placed with the current plans with additional building space to spare. All units would have a view of the water and have a 2000 square foot minimum floorplan. At roughly $500,000 per unit selling price, this would gross out over $40 million in sales potential. The time to invest is now, before the next real estate boom reaches its peak. The GPS position is N36 26.715 W88 05.049. This land is on a gentle slope that provides a fantastic view of Kentucky Lake (Tennessee River) and is bounded by Paris Landing State Park on 2 sides. There is over 1400 foot of paved road frontage on the upper tract. Available utilities include natural gas, city water, sewer, cable, phone and electric. Included with this sale will be the transferable lease rights to an additional 4.7 acres of leased TVA (U.S. Tennessee Valley Authority) waterfront (approx 800 feet of waterfront) on one of the most protected bays on the main river. This is a commercial lease that allows for most any business development on the waterfront, subject to TVA’s approval. Currently, this land is permitted for docks, a beach, a boat launch, a marina and dredging work. With the exception of our leased portion, all of the bay is part of Paris Landing State Park and the Coast Guard Base and no other docks or facilities currently exist in this bay. Paris Landing State Park Marina is currently the hosting location of over 30 fishing tournaments per year including BASS Elite invitational series tournaments for the next 2 years. The state park covers 841 acres and  offers a marina, campground, 18 hole golf course, swimming beach on Kentucky Lake, swimming pools, rental cabins, 130 guestroom inn, banquet facilities, 10,000+ square foot conference center, nature trails, picnic areas and more! See http://www.tennessee.gov/environment/parks/ParisLanding/ for more park information on the park and its ammenities. Location, Location, Location!!! See photos for 8 hour & 30 minute drive time radius Paris Landing is centrally located and less than an 8 hour drive from many of the nations most populous metropolitan cities including; Chicago, St. Louis, Atlanta, Louisville, Columbus, Cincinnati, Indianapolis, Little Rock, Memphis, Nashville and Knoxville. It is an ideal retirement location with low property taxes, a much lower cost of living than other parts of the country, 4 seasons with mild winters, easy highway access and a friendly atmosphere. With all of these benefits, it is no wonder the local area has become a retirement hotspot over the past few years. Important Points to Consider Location, location, location – On Kentucky lake close to US Hwy 79 and adjacent to Paris Landing State Park – Golf Course, Marina, Beach, Convention Center, Hotel, Campground and Cabins facilities are at the park. Easy highway access – US Hwy 79 is a 4 lane highway for East, South and West access, TN 119 and KY 121 lead to the North to 4 lane US Hwy 641N All utilities on property – gas, water, sewer, phone, cable, high speed cable internet access, electricity Gently sloped to the lake – preliminary plans placed 84 condo units in a terraced placement but high rise units would utilize space more efficiently Ideal marina location – the most protected bay known in this area and adjacent to the park, more slips are needed in this area as many marinas have waiting lists TN River Resort Act Area – allows more uses of the property and aids in the development and marketing of the local area No zoning and minimal building permit requirements help speed construction along. USTVA watershed – TVA promotes sustainable economic growth within the TN Valley, often aiding or assisting some business ventures. TVA is known to be much easier to work with than the USACE (Army Corps of Engineers) Ideal retirement location - The local area has become a retirement hotspot over the past few years and it is expected to gain in popularity as the baby-boomers start to retire and the tourism increases   The gentle slope of our land with the overlook of the water is the ideal candidate for a stylish condominium and marina development project. In early 2006, the TN River Resort Act was passed for Henry County which will earmark 50% of 4.6% of the sales tax received in the county for tourism development. Only properties within 3 miles of the river qualify for the benefits of this act. Properties within this location may also have establishments that serve liquor by the drink. Currently, there are no high end hotels, only one condo deveolpment and no chain restaurants in this local area. With the anticipated tourism marketing of the area, a fast growing demand for such properties is expected. No other sites on this lake have the available combination of easy highway access, gentle sloping terrain, full utilities, protected harbor, excellent views and location, location, location to build a premier development project. Preliminary plans are drawn up and ready for the next step. Construction plans include the concept of ICF (insulated concrete form) construction for "green" construction and freedom of expression for the architect. See the following list for features. Principal features of the current drawings & plans:  SAFE, QUIET, EFFICIENT AND ELEGANT 2.       Quadlock concrete form construction  www.quadlock.com o        Thermally efficient – condo costs less in operating costs – adds selling value o        Exceptionally quiet – less noise from neighboring units – adds selling value o        Storm resistant design – tornado safe room features for every ground level unit, terraced design allows for more safe rooms – adds selling value o        Nearly fire-proof  design – lower  insurance premiums – adds selling value o        Architecturally versatile to artistically designed plans – fewer constraints for the ideas of the architect o        Fast construction methods – standardize construction costs, 1 set of forms for multiple units, monolithic pours of footings and walls for cost & labor savings – saves money on construction costs. 2.       Central hot water, heat & a/c unit – central boiler/chiller unit provides heating, cooling and hot water to all units. Reduces operating costs to all units. Reduces individual maintenance costs and decrease environmental impact. 3.       All condo units have a view of the water o        Terraced design fitted to the layout of the property – all units have a view of the water and of the main river o        Design incorporates privacy areas for individual units that are hidden from the view of the units above o        Thermally efficient windows and doors for energy savings, light tubes for natural lighting in back rooms, patio space with privacy areas, garage area for terraced units 4.       Minimized use of stairs – added benefit for retirees o        All individual units are free of stairs o        Elevators for multistory units   The base plans have been laid and they are waiting for the next step. If you are interested in purchasing or investing in this property, please email me for more details. Direct email link @ www.treemuncher.com Hate those high fuel prices? 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