I drove through the Bridgewater development in Medina this morning. (Bridgewater is located just west of Foxberry Farms. You can get to it by driving west on Highway 55 and turning north on Arrowhead).
I was curious to get a sense as to how fast the development was coming along. Certainly since the Charles Cudd Company sold off more lots to TJB Homes and LeGran Homes, the development appears to be making more headway. In part it’s looking more full because there are now 5 builders there so the risk is spread a bit when it comes to building spec homes.
There are 100-105 home sites available overall in this development. So while by my count there were 35 homes that were either completed or in the process of being built, that leaves another 65-70 homes to be built over the next 3-5 years.
This will act as an overhang of supply in Medina for some time as each one of these lots will be a home priced between $800,000 – $1,200,000.
For more on Bridgewater at Lake Medina, see my earlier post here. Below is a plat map of the development.
[...] Bridgewater at Lake Medina is the latest large development in Medina. There are still approximately 70 lots left for sale. Home packages range from about $800,000 – $1,300,000. [...]