Company: 2,000 acre Bellevue development "a go" - WSMV News 4

Company: 2,000 acre Bellevue development "a go"

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A Dallas company has Texas-sized plans for the land it's already bought at McCory Lane and Interstate 40.

JMJ Holdings is planning to build 1,000 homes  plus a supermarket and department store on its land in Bellevue. The company said its long-term plan is to add more retail,  hotels and office space. In all, JMJ plans to develop nearly 2,000 acres in the next 15 to 20 years.

JMJ's president Tim Barton said the houses will start around  $250,000, with the houses along the hills going up in price.

"In the hill country in the back you would have a half a million, all the way up to $1 million or $2 million homes there," Barton said.

JMJ  first announced its Bellevue plan four years ago. Barton said the pieces are now starting to come together. The company is working with TDOT to realign McCory Lane,  and working with Metro council  to improve the infrastructure.

Asked whether the plan can become a reality with the economy still struggling,  Bellevue councilman Eric Crafton said he hopes so, and said it's smart for the city to plan ahead for when the demand is there.

"I think when all the I's are dotted and the T's crossed, it'll be a way to set ourselves up for when the economy does turn around, so we won't be caught standing flat-footed," Crafton said.

Barton said he believes the economy will be in better shape by the time the first houses are ready to sell in  two to three years.  He said the project is 100 percent a "go." 

"We're bullish on Nashville," Barton said.

 The Dallas-based company has developed upscale properties in other cities, such as Palm Springs.

There will be a public hearing on the Bellevue development in August.

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