Former Chattanoogan Tim Downey said he is glad to return to the city for the development of the Black Creek property.
His Southern Land Company, a Franklin, Tn.N-based, full-service real estate development firm, has been named the master developer for Black Creek Mountain, according to York Capital, majority owner of the project.
Southern Land Company CEO Downey began his building and development career in Chattanooga in the mid-1980s, bringing a number of high-end residential communities online including Ram’s Gate, Legends, Rosemere, and Emerald Valley.
Since relocating to Nashville in the late nineties, Mr. Downey has significantly expanded the company’s portfolio into Middle Tennessee, Texas, Colorado, North Carolina, Pennsylvania, and New York. One of the firm’s well-known master planned, mixed use projects is Westhaven located in Franklin. Southern Land currently has offices in Nashville, Dallas and New York City.
“As a developer who got his start with a small operation in Chattanooga over 25 years ago, it is very rewarding to have come full circle and return to a city that I admire very much,” said Mr. Downey. “We believe that Black Creek has a great deal of potential and we are excited to be back in town.”
Located in Lookout Valley at the base of Aetna Mountain, Black Creek Mountain is six minutes from downtown Chattanooga. Officials said, "Black Creek’s property includes homes and homesites at the base of the mountain with extraordinary views and community amenities that include miles of nature trails, fishing ponds, tennis, cascading pools, sports complex, grand clubhouse and an award-winning golf course."
The property also includes land on top of Aetna Mountain which will include future residential and commercial development.
Presently, there are 396 completed homes and approximately 20 currently under construction in the development's first phase with single family homes starting in the mid $200s and estate homes starting in the $400s. A variety of single family home plans, quality builders, and homesites remain available in phase one.
Officials said, "The high architectural standards are one of the many reasons Black Creek Mountain was the number one selling community in Chattanooga in 2013."
The builders include Black Creek Builders, Hagaman Construction Company, Hill Haven Holdings, P&C Construction, RDG Properties and Dexter White Homes. Sales are managed by Black Creek Mountain Realty.
As master developer, Southern Land Company will assume control over all elements of the community’s remaining build-out. Mr. Downey said the natural elements of the property are perhaps its largest asset.
He said, “This is a beautiful piece of land, and requires a lot of planning to ensure that the new homes compliment the landscape in a way that preserves the natural elements of Aetna Mountain. As a company, we have a great deal of respect for striking a balance between new developments and preserving the integrity of the property. That will be a big consideration for us as we begin work at Black Creek.”
Gary Chazen, who is part of the investment group behind the project, stated, “I have known Tim Downey for many years and look forward to working with him and his Southern Land Team. I am excited to have their expertise in development, knowledge in management of mixed use communities and overall business practices that will be applied at Black Creek Mountain.”