Builder set to add 110 more lots to Jasper Meadows.
SPRINGFIELD - Developer and home builder Hayden Watson is moving forward with three new phases of his Jasper Meadows subdivision that will add 110 lots.
Doing business as Crossroads Development LLC, the Redmond-based Watson already has completed more than 150 lots and homes at the project site.
Watson is in the process of building 54 additional lots that make up phases four and five.
Jasper Meadows, 97 acres in all, is south of Mount Vernon Road and east of South 57th Street in the Thurston area. Work on the subdivision started about five years ago.
In documents submitted to the city, the proposed 110 lots would be built on 21 acres about three blocks south of Mount Vernon Road and just west of the future Jasper Road extension corridor.
Watson and other Hayden Homes officials could not be reached for comment Monday.
Under terms of a master plan approved by Springfield planners last year, Watson appears poised to build the lots out over the next three years. The master plan calls for the 24 phase six lots to begin construction this year.
The next two phases of 41 and 45 lots, respectively, would begin construction in 2007 and 2008, according to the master plan.
The schedule could change if the housing market slows because of increasing mortgage interest rates or a regional economic downturn. But Oregon in general, and Lane County in particular, have been on a home-building tear for the past five years with no signs of slowing.
Some economists predict a slight slowdown in new home starts toward the end of 2006, but residential developers in Eugene-Springfield, Junction City and Veneta are planning to build hundreds of new lots this year to meet steep market demand.
Just east of Watson's subdivision, homes are going up on the first 71 lots of the huge MountainGate development.
In addition, Lane County developer Todd Alberts is preparing to put the first 43 lots of MountainGate's third phase on the market in February, and another developer recently announced plans to start work later this year on the 130-lot fourth phase.
Watson's Jasper Meadows thus far has catered to entry-level new home buyers turned off by the $225,000 starting prices at other subdivisions.
Homes in Jasper Meadows, especially in the "cluster" phases with smaller lots, tend to sell in the $150,000-$190,000 range. When fully built out, Jasper Meadows will have about 350 homes.
Development Report runs Tuesdays. To suggest items, contact Joe Harwood at 338-2364 or jharwood@ guardnet.com.
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|Title Annotation:||Real Estate & Housing|
|Publication:||The Register-Guard (Eugene, OR)|
|Date:||Jan 31, 2006|