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Mitch Cox Unveils Plan to Develop 253 Townhome Apartments in Johnson City

Posted by on Oct 10, 2013

Boone's-Ridge-Dirt-Grading Mitch Cox Companies

 

Johnson City, TENN. – On September 10, 2013, Mitch Cox Companies broke ground on 18.8 acres of what is the company’s largest development to date: the Boone Ridge Townhomes.

 

Mitch Cox Companies specializes in providing full-service real estate solutions in the Johnson City, Kingsport, and Bristol (Tri-Cities) region of Northeast Tennessee. As a full-service real estate solutions company, Mitch Cox Companies provides a comprehensive approach to development through commercial real estate, brokerage, construction, architecture, community association management and property management.

 

The three-phase project is a $20 million investment that will yield 253 townhomes off of the Boone’s Creek exit on Interstate Highway 26 between Gray and Johnson City, Tennessee. Mitch Cox, founder and CEO of Mitch Cox Companies, has owned land located behind the Bob Evans restaurant since 2003.

 

“It’s finally time,” said Mitch Cox. “We felt the time was right because of three factors: the steady performance of the market, the strategic location, and the fact that over the past four years we have built 250 apartments – all of which are fully occupied.”

 

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Cox has partnered with Shane Abraham, president of Universal Development & Constructiony (UDC) in Johnson City, to undertake the project. Cox and Abraham have worked together on previous projects across since 2008 including the Pickens Bridge Village and Cherry Grove, both located in Piney Flats, and Stonecrest Townhomes and Villas at Town Acres, both located in Johnson City.

 

“When we design, whether its apartments, condominiums or townhomes, I strive to abide by a solid business principle,” said Abraham, “which states that I will not build for people something I wouldn’t want to live in myself both in regard to function and design.”

 

The design will be similar to the Villas at Town Acres on People’s Street in Johnson City which includes brick and hardi-plank facades on the exterior and stainless steel appliances with satin nickel finishes throughout the interior.

 

The townhomes will be for lease only at this time. Mitch Cox Construction, Inc. will construct the properties while UDC will provide the property management and leasing of the townhomes once they are complete.

 

Jim Hallahan, project manager with Mitch Cox Construction, Inc., said, “The expected completion of the first handful of townhomes from Phase I – ninety-five townhomes – is anticipated for late Spring 2014. If all goes according to plan, Phase II will follow with 111 townhomes along with a community area and Phase III will finish the remaining fifty-seven units.”

 

 

BR phasing

 

“Accounting for the multitude of factors affecting such a large-scale project,” Hallahan continued, “we plan to complete this project within three years.”

 

There will be 80 one-bedroom, 161 two-bedroom, and 12 three-bedroom townhomes. Most units will have a drive-under garage. The community area will include a clubhouse, with a pool and other amenities such as a playground, basketball court and on-site tanning equipment.

 

The estimated price range is $595 per month for a one-bedroom without a garage to $1195 for a three-bedroom with a garage.

 

Abraham said, “We are going to be working with the property owners adjacent to the project to begin a beautification process to the bordering lake.” Abraham foresees further growth into the area as more and more retail and commercial businesses start moving out to the Boones Creek area in the future.

 

“As this area begins to see increased development, we would like to position ourselves to be the leading multi-family provider for this area,” said Abraham.

 

Founded in 1979, Mitch Cox Companies is a full-service real estate solutions company offering development, architectural, construction, brokerage and commercial property management services. The company also manages projects in the hospitality industry across the Southeast U.S. and manages residential community associations in the Tri-Cities region of Tennessee. . To see our work and listings, visit our website, Facebook page, or call us at 423.282.6582.

 

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