Things are moving along swimmingly on the Etowah Bend gated riverside estate community, a new residential development in Euharlee that celebrated its formal groundbreaking Wednesday …
Things are moving along swimmingly on the Etowah Bend gated riverside estate community, a new residential development in Euharlee that celebrated its formal groundbreaking Wednesday afternoon.
"Construction has already started," said Josh McWhorter, CEO of McWhorter Capital Partners. "I guess we started that about a week and a half, two weeks ago and we're sort of hoping that the development portion ends in about three months, 90 days."
The residential development is being constructed off Milam Bridge Road.
"The acreage we have out here in total is about 165, 166 acres," McWhorter said. "But we've taken about 100 acres of those and we've put them into 28 lots that will have river access, seven lots that will actually have river frontage."
He said the houses to be built on the site will be, at a minimum, 2,500-square-feet. He estimates the price range to span from $400,000 to $500,000.
"Starting out, lot prices will vary based on the number of acres," he said. "We have lots that are just over three acres to our largest lot, which is just under seven acres."
There are also plans to put in a pavilion and possibly a boat ramp leading into the river on the property.
Ron Goss, president of McWhorter Goss General Contractors, recalled reading a study several years ago describing the Etowah River as one of the most underutilized rivers in the state of Georgia.
"Bartow County government, City of Cartersville government, the City of Euharlee, they all made commitments to try to do things to enhance river activity, and you see all the launch sites that were done, the day areas on the river," he said.
"When you ride by over the weekends and see all the people floating the river and all, that was started by those city governments four, five years ago and that's why a subdivision like this is able to be successful, because people have kind of gotten a taste of it and now they want to have the access."
Waterside property of the like, McWhorter said, is certainly in high demand — he said he gets at least one phone call a day from individuals interested in purchasing riverfront land.
McWhorter said the development isn't targeting any specific market segments or demographics — rather, he said he's optimistic Etowah Bend will reel in prospective homebuyers who simply prefer ample breathing room.
"We're just looking for people who are wanting a bit more space that want to live a little bit further out in the country that enjoy being outdoors, that enjoy the river and taking advantage of what Bartow County has to offer," he said.
Although interested in pursuing additional development in Euharlee, McWhorter said he will wait and see how Etowah Bend performs before expanding his footprint.
"We felt like this market, in terms of Euharlee and some of the things coming to it, could be supported for 28 lots — we're just sort of open," he said. "We really haven't talked to others to see what they're doing, but the cost of development is pretty expensive right now, so that's the one thing — trying to find land you can develop at a reasonable cost so that you can put the infrastructure in and still have a profitable project."