SITE ANALYSIS Location The subject property represents 19 developed lots and excess land located within the King’s Creek subdivision, which is located along the north side of Kedron Road, roughly 1.5 miles south of Saturn Parkway (Highway 396) in Spring Hill, Tennessee. The predominant type of development in the subject’s immediate neighborhood is residential. Access is judged to be good for the subject’s immediate neighborhood as it is located near major local traffic arteries, as well as IH-65. The subject area is located approximately ten miles northeast of the Columbia CBD. The area includes a variety of residential uses, with buildings ranging in age from new to twenty years with development predominantly constructed over the previous five years to the present date. Typical sites located within the area are considered functional as are their locations. Development within the immediate area ranges from single family homes to medium density single-family homes. It is important to note that the King’s Creek subdivision is located on an Arnold Palmer designed golf course which, at just over three years old (completed in 2006), represents one of the newer golf courses in the immediate area. King’s Creek represents a “neo-traditional” neighborhood development located within a golf club community. Due to the unique aspects of this development, there are no similar developments within the Spring Hill/Maury County market areas that are considered directly comparable to the subject. Size/Shape Overall, the subject represents 19 developed residential lots and excess land, all of which features a combined size of 30.4 acres. The subject’s developed lots range in size from 0.04 to 0.19 acres with an average lot size of 0.10 acres. The subject's excess land is comprised of Tract A, a 27.32 acre tract of undeveloped land, and Tract B, which represents nine (9) undeveloped lots located in the northwest corner of King's Creek's first phase. Combined, the subject's excess land tracts represent roughly 28.52 acres and is approved for 205 lots, total. The table below illustrates each of the size of each of the subject’s 19 developed lots: Subject's Developed Lots Parcel 11 10 9 8 7 6 5 4 18 17 16 15 14 13 12 22 21 20 1
Lot # 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 94 95 96 100 Total: Overall Average: Townhome Average: Single Family Average:
R. K. Barnes & Associates, Inc.
SF 4,414 1,729 1,729 1,866 1,866 1,729 1,729 3,837 8,218 5,320 5,320 6,300 5,320 5,320 5,320 6,300 5,320 5,320 5,320 82,277 4,330 2,362 5,762
Acres 0.10 0.04 0.04 0.04 0.04 0.04 0.04 0.09 0.19 0.12 0.12 0.14 0.12 0.12 0.12 0.14 0.12 0.12 0.12 1.89 0.10 0.05 0.13
Proposed Use Townhome Townhome Townhome Townhome Townhome Townhome Townhome Townhome Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family
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