Developers of Walnut Hill Townhomes said Monday they plan to continue circling a downtown block with the spacious, upscale residences.
Dale Mabee said his Urban Renaissance Group wants to exercise its option on a section at the corner of Aquarium Way (Second Street) and Walnut Street. That site is now a city public parking lot.
Mr. Mabee said there has been renewed interest from purchasers who want to live downtown in three-story townhomes featuring up to 3,900 square feet.
He said 12 large townhomes will be built along Walnut Street across from the new Walnut Commons Apartments.
Mr. Mabee said smaller units have been built along Third Street after the initial spacious townhomes were constructed along Cherry from Third Street to Aquarium Way.
He said the Cherry Street townhomes have sold from the $600,000s to over $1 million. The new Walnut Street townhomes will have a similar price tag.
The group is paying the city about $850,000 for the parking lot site. It earlier paid the city over $1 million for the rest of the property.
Mr. Mabee said his group "will be moving quickly," but he could not tell when it will take over the parking lot.
He said the townhomes have contributed over $450,000 in property taxes thus far.