Homebuilder D.R. Horton last week spent $5.48 million on 50 lots in Gallatin’s Nexus development, according to Sumner County deeds.
The Nexus development is a colossal, 665-acre master-planned community being developed by Kolter Land, a Tampa-based acquisition and development firm. The property is north of the intersection of Red River Road and Highway 109, and straddles Albert Gallatin Avenue.
When it's complete the project will be a mix of single-family houses, villas and townhomes, as well as an office park and open space.
President of Kolter Land Jim Harvey, speaking to the Business Journal in May, said the buildout value of the community is over $2 billion. The residential element – of which D.R. Horton is one of five developers – is expected to take around five years. The commercial elements will take twice that time.
D.R. Horton and David Weekly are constructing the community’s single-family homes, which will range between 1,700 and 3,000 square feet, Harvey told the Business Journal.
D.R. Horton could not immediately be reached for comment Tuesday afternoon.
Ryan Homes will be constructing the community’s townhomes.
Nexus will have a combined total of 1,350 residences, including 260 townhomes and 140 attached villas.
The community will also include 1.1 million square feet of mixed-use development featuring office space, retail and 900 apartment units spread across 124 acres. An additional 109 acres will be built out for a business park, which could be used for light industrial manufacturing and medical offices.
Kolter Land is the property acquisition and development arm of real estate firm Kolter Group. It controls more than $9 billion of real estate investments, according to its website.