Crye-Leike’s Spring Hill Downtown Development Project Underway

Nashville, Tenn. – The 98-acre property in downtown Spring Hill that has remained undeveloped since 1986 is finally getting the attention it deserves.

Harold E. Crye, chief executive officer of Crye-Leike, Realtors, the nation’s 10th largest real estate company, saw real estate opportunities in the town of Spring Hill and decided to be the catalyst in revitalizing this downtown area. He purchased Town Center, a 98-acre mixed-use development that surrounds Spring Hill City Hall, in November 2003.

His plan calls for “adding more roof tops so Spring Hill residents can call downtown ?home,'” says Crye.

Construction has begun on the development of 103 home sites on 33 acres of this 98-acre site, located adjacent to Spring Hill’s City Hall. Contractors are in the process of installing the water and sewer lines for these home sites.

The initial phase of developing, building and selling the home sites is projected to begin in the spring of 2005, says company officials.

Prospects for additional apartments, senior housing and a graduated care facility are also being explored, says Crye, with the remaining acreage, which fronts Town Center and Stephen P. Yokich parkways, held for commercial use.

The subdivision is within walking distance of Town Center’s current tenants: Spring Hill’s Administrative Complex, City Hall, police department, post office and public library. Town Center also is currently occupied by the Maury Regional Medical Clinic; the First Farmers & Merchants Bank; the United Auto Workers Credit Union and a community shopping center anchored by a Food Lion grocery store.

The 98-acre property had remained undeveloped since 1986 after a master plan went astray by owners Smiley & Atchison, a private development firm that planned to build a new Town Center and other commercial businesses on 175 acres. The infrastructure had begun to be built on the commercial side of the development, with paved and landscaped road arteries, sanitary sewer, natural gas, underground electrical and telephone service, before the project went under. SunTrust Bank foreclosed on the partnership’s $5 million note in 1991.

Crye purchased the property on November 4, 2003 from SunTrust Bank and First Farmers & Merchants National Bank. Brentwood-based Crye-Leike Commercial facilitated the sale between the banks, Spring Hill Mayor Ray Williams and the City Administrator Ken York.

“The much anticipated growth that was projected to be from this master plan, almost some 20 years ago, is now becoming a reality as the change in population growth has progressed,” said David Stremic, president of Crye-Leike Commercial who is assisting Harold Crye with the project.

Harold Crye does not intend to change the original master plan concept, but “just tweak it a little bit,” he says. “We see the potential to capitalize on the existing infrastructure and make the Town Center the focal point of Spring Hill.”

Spring Hill is a split county city. It rests 12 miles north of Columbia, the county seat of Maury Count where Crye-Leike has a branch sales office, and 12 miles south of Franklin, the Williamson County seat where Crye-Leike also has another branch sales office. The city has experienced most of its population growth and development on the north side of downtown Spring Hill, the Williamson County side.

Crye envisions that his redevelopment plan will attract residential and commercial growth to gravitate toward the Maury County side of Spring Hill, specifically to Town Center.

“Once we get the residential subdivision in place, that becomes a catalyst for commercial businesses to emerge into downtown and in the front section of the property,” says Crye.

As Crye-Leike Commercial begins to subdivide the commercial parcels into various sizes to accommodate future growth, Crye is entertaining various opportunities, including seeking big box retailers as well as developing a junior retail center.

Parsons-based Community South Bank is financing the development of this project.

Crye-Leike (www.crye-leike.com), a full service real estate company for 27 years, is the nation’s 10th largest real estate company and the largest serving Tennessee and the Southern Region of the United States. It has a network of over 2,850 sales associates and 79 corporate and franchise offices located in 41 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike attained sales of $3.17 billion and 22, 198 closed transaction sides corporate wide in 2002.