GoMemphis: Local -
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Published on: 11/23/2002
Last Visited: 11/23/2002
Terry Dan, head of a local development company that does housing projects in the Bridgewater area, said annexing parts of the community prematurely would stifle growth.
Dan, president of Terry & Terry Inc., said most of the new homes built in the area have been "entry-level housing."If annexation occurs, expenses such as city taxes will drive up the cost of new homes.
"Any factor that affects the cost of housing affects the marketplace," Dan said."Anything that adds to the cost of a house note makes it more difficult for an entry-level buyer to qualify."
Dan, who is taking the lead for other developers in negotiating with Marshall, said he's optimistic some type of phasing plan can be worked out.
Dan estimated as many as 3,500 new homes could be built in Bridgewater if annexation occurs gradually.
"I think everybody recognizes the area will be annexed and should be annexed," Dan said."There are some problems with doing it now."
Another unresolved issue is the fate of two new county schools - Dexter Elementary and Dexter Middle - which are located within the proposed annexation area.
City and county officials haven't yet worked out a transition plan for those schools to be absorbed into the city school system.