“I'm betting we're going to see the biggest real estate growth in the next three years,” said Tyler Clark, who is developing both quality rental units as well as developing a subdivision and building homes for purchase currently in Crossville. “Really, what we are doing is getting back to normal, catching up,” added Clark.
Blackberry Ridge rental duplexes
Tyler Clark appears to truly believe that statement as he has 35 upscale units barely a stone's throw from downtown Crossville and another 60 acres being developed for residential homes and possibly more rental units as well, located just off of Miller Avenue Bypass south of downtown and behind the Tennessee College of Applied Technology.
Clark has 35 rental units, mainly duplexes in a development called Blackberry Ridge Estates that was originally developed as a residential subdivision. The lots were put on the market just after the bottom fell out of the housing market. Clark purchased the still vacant development in late 2014 and began building the upscale rental duplexes that include hard wood floors and other quality touches throughout. Each unit is about 1500 square feet and includes two bedrooms and two bathrooms. The units rent for $800 a month.
The location of Blackberry Ridge Estates is one half mile from the Cumberland County Courthouse in Downtown Crossville and that great location was a big part of what sold Clark on the project he told UCBJ. And while it is that close to the main part of Crossville, Clark describes the atmosphere of the location as “When you're back here you're away from everything.” Clark's plans include doubling the number of units in Blackberry Ridge with preliminary work already starting to take place on the next phase.
The second and larger project, called Crossroad Villages includes plans for 49 lots of varying sizes. Infrastructure is currently under construction including roads and utilities. In addition, there are four speculative single family homes currently under construction as well in that development. Two of those are on the market already and two more are now in the final stages of construction.
Crossroads Village Home
In addition to the rental and residential developments, Mr. Clark also operates an excavation and construction equipment rental business through Clark Equipment Sales and Rentals on Crabtree Road in Crossville. In addition, Clark said that he and a partner have just created a new company called Premier Leasing that he described as “one of largest privately owned rental companies in Tennessee” and added he tries to keep several interesting things going on in business.