US-based builder Gehan Homes has acquired McClure Farms, a more than 100 acre property, for $14.2m in Tennessee, US.
Following this acquisition, the company plans to build more than 400 new homes in the Nashville metropolitan area, including 315 town homes and 116 single-family homes.
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Situated outside of the Spring Hill area on Hwy 31, the new community will a few minutes away from I-65 interstate access.
The project also lies 23 miles from downtown Franklin and 39 miles from downtown Nashville.
McClure Farms is near big employment centres, including General Motors, Amazon, Vanderbilt University Medical Center, Randstad, Community Health Systems, Ultium Cells Battery Plant and Nissan North America.
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Gehan Homes president and CEO John Winniford said: “This acquisition represents our continued investment in the Nashville market, increasing operational scale across our portfolio.
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By GlobalData“The project will provide much needed housing inventory in a market that has seen accelerated job growth and housing demand.”
In January this year, Gehan Homes announced its plans to start homebuilding operations in Nashville, Tennessee.
Gehan Homes has built thousands of homes in more than 120 communities across Texas, Arizona, Colorado and Tennessee, since 1994.
It operates Gehan Homes, Gray Point Homes and Wonderland Homes brands.
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Image: The McClure Farms preliminary planning layout. Credit: Gehan Homes/PRNewswire.
