"We have completed a majority of the necessary studies required by the U.S. Army Corps of Engineers and by the city," says Varallo. We are in the process of submitting formal applications for our PUD and zoning requirements."

Situated on an undeveloped parcel along the east bank of Mill Creek, the project's residential component will include 175 waterfront "villas," with prices starting at $500,000 for a two-bedroom, two-bath unit. Villas range in size from 2,035 sf to more than 3,500 sf for the two-story, three-bedroom, three-bath penthouse. Groundbreaking on the housing project is scheduled for summer with move-ins expected to begin next year.

A 14-acre harbor featuring a 225-slip marina will be constructed adjacent to the villas and will accommodate boats up to 110 feet in length. A transient dock will have room for up to 30 boats, and a harbor walk, fueling station, ship's store, pools, tennis courts, exercise rooms, marina management office, restaurant and commercial space will fill out the complex.

"We are meeting several times a week with residents and business owners in the neighborhood of the project," says Varallo. "Interest is high and response is positive."

In addition to Varallo, who is president of Varallo Investment Properties of Nashville, partners in the development include local firm Holder Enterprises and Middle Tennessee Investors of Franklin, TN. Local firms Hardaway Construction and RP Industries are partnering on the construction projects, and Manous Consulting & Design Inc. of Lebanon, TN is developing the master plan as well as providing architecture and engineering services.

Instant Insights /

Groundbreaking Soon for $150M Cumberland Yacht Harbor Project

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