LEXINGTON AND WILMORE (May 26, 2017) – Legacy Point Development has opened escrow with local Lexington firm, Jett Title, with plans to build a residential development anchored by a Jack Nicklaus Signature Golf Course, a clubhouse, and a lifestyle, wellness and activities center.
Legacy Point is located in Wilmore just outside of Lexington.
“We believe the pieces are all together and the timing is right to launch a project of this caliber forward,” said John C. Loudon, managing member of Legacy Point.
There are several key factors which have brought the Legacy Point Development to this point:
- As of the end of last year, Legacy Point optioned additional strategic lands for development, and the City of Wilmore has annexed these properties and approved the preliminary plat.
- At the beginning of the year, Lexington was ranked by SmartAsset at No. 2 on a list of the 80 largest cities in the country to retire early. This ranking was based upon Lexington’s low cost of living and affordable healthcare.
- Real estate prices continue to flourish in the Lexington Metropolitan area because of demand and a lack of inventory.
- The Lexington economy is well-diversified and continues to show tremendous strength around this vibrant family community.
“Our strategy and vision for the development remains consistent: To pass on the inherent equity in the project to those early visionaries and members, providing them tremendous value and upside for their investment,” according to a news release. “Based upon today’s market conditions, we have competitively priced our lots to the current market value—irrespective of the $50,000 equity club membership that is included with every lot, the additional complimentary club membership, discounted club dues and quality community facilities. Legacy Point will be an affordable luxury residential community, nestled in the rolling hills of horse farm country, and with an emphasis on world-class golf and a whole lot more. It will become a way of life!”
The Legacy Point team has met with most local lenders in the area in order to share their conservative strategy for the development. Those lenders have responded with very attractive financing options for Founding & Charter Members, and are excited about the opportunity to participate in the project via lot financing and subsequent vertical construction, the news release said.
Early Members will have the option to sell their real estate at any time and retain their Founding or Charter club membership. Many prospective members have expressed interest in venturing with local builders in order to take advantage of the shortage of quality real estate investment opportunities in the local area, the news release said.
“We continue to be proud members of the Lexington community and we’re even more excited for the community to be a part of this project,” said Byron L. Holley, Managing Member of Legacy Point.
An overview of the project can be viewed at LegacyPointDev.com.