Friday, May 18, 2007
Shakes Run will bring 460 new homes to Eastwood Area
Developer Steve Canfield has a second project, Poplar Woods, under way in Oldham County
Business First of Louisville
By Sarah Jeffords

Residential developer Steve Canfield has ventured into the Eastwood area with his newest project, Shakes Run.

Located 1.2 miles south of Shelbyville Road on Eastwood-Fisherville Road, Shakes Run will consist of 460 single-family homes and a 6,400-square-foot clubhouse with an indoor and outdoor pool. Houses will start at $350,000.

The home sites have been designed around the natural amenities of the land, which include woods, three lakes, a winding creek and more than 70 acres of green space.

Canfield, owner and president of Canfield Development Co., said his company spent $5 million to purchase the 250-acre site from Billy Holloway last fall.

Canfield Development will invest another $35 million in development costs, he said, adding that Fifth Third Bank is financing the project.

‘Tremendous interest’ in new community

Shakes Run already has received necessary planning and zoning approvals, and site work is scheduled to get under way in late summer.

Lots will be sold to home builders and individuals. Canfield said there has been “tremendous interest” in the property, and all 50 lots in the first phase have been sold.

He added that the natural beauty of the land, along with the price of homes, makes Shakes Run an attractive development.

Poplar Woods homes to start at $760,000

Shakes Run is the second project that Canfield Development will begin work on this summer.

The company also is moving forward with Poplar Woods, a 93-lot development in Oldham County, off U.S. 42 between South Buckeye and Goshen lanes.

The project previously was approved as Kennesaw Green, but Canfield opted to change the name because of the huge poplar trees found throughout the property.

Home prices at Poplar Woods will start at $760,000.

What makes it such an interesting development, Canfield said, is that it is only the third project in Oldham County to be designated as a conservation development.
Canfield said a development gets such a designation when more than half of its acreage is set aside as permanent open space.

At Poplar Woods, 103 acres within the 203-acre tract will remain as open green space.

Plus, the home sites are designed so that each lot backs up to open space, woods or creeks instead of another lot, which has been a big draw for buyers. All 39 lots in the development’s first phase have been sold, Canfield said.

Canfield Development paid $5 million for the property, and it is investing another $7 million in development costs, Canfield said. He added that BB&T is financing the project.

Established name in development circles

The Poplar Woods and Shakes Run projects are the most recent additions to an already extensive development portfolio for Canfield.

His company has developed several upscale projects in the Prospect area, such as Innisbrook, Falls Creek, Wolf Pen Woods, Wolf Pen Springs, and Spring Farm Place.

In addition, Canfield Development’s Beech Spring Farm was the site of the 2006 Homearama and will host the 2007 home show, which is scheduled for July 14 to 29.

“I’m always looking for high-quality property in good locations,” Canfield said.