Friday, February 25, 2005
Canfield set to start work on Beech Spring subdivision
Business First of Louisville
by Sarah Jeffords

One of the few remaining large tracts of land in northeastern Jefferson County soon will be converted into upscale houses as plans for Canfield Development Co.'s Beech Spring Farm move forward.

Canfield will develop the 209-acre project, located on Barbour Lane between Trail Ridge Road and Wolf Pen Branch Road.

Steve Canfield, the company's owner and president, said Canfield Development purchased the Beech Spring Farm property from the Sloane Graf Trust in a $12 million deal that closed last week.

BB&T financed the transaction.

Canfield estimated that the entire cost of the development, including land acquisition, infrastructure costs and the retail value of the completed homes, will be $225 million.

349 houses planned

Canfield Development already has received zoning ap provals for the development plans, which call for 349 single-family homes to be built in five separate "villages" that offer differing lot sizes and prices.

One section will consist of 75-foot wide lots, and houses will range in price from $375,000 to $450,000. On the upper end, lot sizes will be between 125 feet and 150 feet wide, and the houses will cost $750,000 to more than $1 million.

Natural boundaries, such as a three-acre lake, creeks and wooded areas, will separate the sections. "It's a gorgeous piece of property," Canfield said.

He said he plans to preserve the natural setting. Nearly two miles of walking trails and 64 acres of open space are included in Beech Spring Farm's design.

Canfield Development officials expect to start site work within 45 to 60 days on the first phase of the project, which will consist of of 103 lots in three price points.

Home construction is not scheduled to begin until early spring 2006. About 16 to 18 area home builders will construct homes in the subdivision.

Idea surfaced years ago

Canfield said he has been interested in the Beech Spring Farm site since 1989, when he started developing neighboring Falls Creek, a 150-lot subdivision.

As part of planning approvals at the time, his company was required to create an entrance to the adjoining farm in case the site was ever developed. That foresight will pay off now because plans call for Beech Spring Farm and Falls Creek to connect.

Because Falls Creek residents will be affected by the addition of the Beech Spring Farm subdivision, Canfield met with the Falls Creek Homeowners Association to obtain feedback from its members.

Although they voiced some concerns, specifically about traffic, Canfield said the project was well received.

Dave Gibson, president of the Falls Creek association, agreed. He said residents wanted the road configuration to encourage Beech Spring Farm traffic to exit on Barbour Lane rather than through Falls Creek.

Taking that into consideration, Canfield Development added a curve in the connector road, so there will not be a straight stretch between the two subdivisions.

"He has made some nice changes that we favored," Gibson said. "Overall, I'm impressed with the quality of what he has proposed, and I think it's a good development."