Back before the real estate bubble burst, KMM Acquisitions and Saplant LLC embarked on a seven home development at the corner of Silverwood St. and Green Ln. called The Green Lane Commons. The first two homes were constructed and listed in the low $600’s back in 2008, but didn’t sell until 2010 and 2011 for closer to $500K.
But there’s been no construction since. The lots next door have sat vacant, looking more or less ready for construction, but certainly not looking nice. Does anyone in the area have any idea what caused this lengthy delay? The good news is that we’re seeing indications that this status quo might be changing in the near future.
In January, the developers listed three homes for sale at this intersection, which would represent phase two of this long-stalled project. The two homes closest to the corner are listed at $525K, and will have 3,200 sqft of living space with four bedrooms and three bathrooms. The next home will be smaller, with only three bedrooms and 2.5 bathrooms, and is listed at $432K. None of the homes are currently under agreement from what we can tell, but we wouldn’t be shocked if construction began as soon as one of two find a buyer. And according to the original plans, two more homes will follow the three currently on the market.
Incidentally, this is just down the street from two projects we’ve covered in recent months, and will also add to the changes taking place on Silverwood Street. Remember, there’s four new homes coming along less than a block away, and the The Cliff Townhomes will be adding seventeen homes to the corner of Silverwood & Leverington.Hopefully, the next phase of this project will break ground soon and continue the trend.