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Old 11-17-2008, 07:54 PM
 
Location: Shaker Heights, OH
236 posts, read 692,440 times
Reputation: 97

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Millbridge has over 1300 lots so its going to take forever to build out. The builders have been a revolving door and while prices started high, they will ultimately come down. The developer, GS Carolina has done a fantastic job on the amenity (they've also developed Cureton, Edenmoor, just over the SC line, Massey in Fort Mill, as well as Quellin.) While they have held very high standards for construction, the financiers of GS Carolina, the Sandler family out of Virginia got very involved in development along the S. Carolina Coast, Raleigh and Florida and number of mechanics liens have been filed against them. Who knows where that will go. A lot of large developers are in trouble today (but they have hundreds of millions) While I hope for the best for Millbridge, lots were priced too highly (for small lots) and its doubtful that any of the pricepoints will maintain themselves as they look to sell lots to builders.

Bottom line is that they have developed a ton of lots (another 1500 at Edenmoor) and demand has dried up. A much more secure investment would be in a more built out community since there is know way of knowing the direction in which home prices will go.

The schools are fantastic though, and what an amenity. Not to mention the covered bridge!!!
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Old 11-17-2008, 08:16 PM
 
Location: Tampa Bay Area Florida
7,937 posts, read 20,285,758 times
Reputation: 2026
Millbridge will have 2200 homes not 1300 as well as there are I believe 40-50 are sold and or living in there..and Sandler is the developer and has claimed bankruptcy protection and has tons of lawsuits and mechanic liens ..GS carolina is the managing partner and doesnt own anything there...with that being said the development will be beautiful it will take about 11 years it was a 7-10 yr project but unfortuantely they started selling once the recession hit, the schools will be great im sure with Rob jackson for the HS and Mrs healy for the Middle...right not its bad for all the builders...however there are some that are selling more consisantly than others...as well as selling more...the lots range in size, as ryland's being the biggest and bonterra's being the smallest, and then comes mattamy and centex...the ammenties are wow, and once this country gets out of this awful mess its in, hopefully people will start buying...Let me add my dd is in Kensington as this school was able to accomidate her learning needs and with that being said we have been extremely happy and the principal is the best....as an elem school you certainly cant go wrong...
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Old 11-17-2008, 08:34 PM
 
38 posts, read 129,469 times
Reputation: 60
Default CRPC not going anywhere

I've posted on this before, but the Charlotte Rifle and Pistol Club has been around for about 100 years, and was on that property long, long, long before subdivisions popped up.

Anybody looking at Millbridge or anywhere around there need to understand and respect that. I have two relatives who are members, and that facility isn't going anywhere.

And my other two cents worth: It seems all these new developments catering primarily to transplants are utterly soul-less, and literally have every tree for acres clear cut down to the clay. Same with Massey off Doby's Bridge. Ugly and depressing. Why totally eliminate the green canopy that is our natural hallmark?

If that kind of a development is a step up from where you current are, then ugh.
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Old 11-17-2008, 09:14 PM
 
Location: Shaker Heights, OH
236 posts, read 692,440 times
Reputation: 97
Just keep in mind that if Sandler is in bankruptcy (I'm not so sure about this but please confirm if you know) and if the bank takes anyone of the projects back, they will likely sell to the highest bidder who can then change the covenants, restrictions, and build and/or sell lots to whomever and build whatever they please...regardless of price or exterior materials (zoning restrictions may apply but many of these can be challenged in court)....I think you are right...closer to 2200 Homes...that's a city!

Love the amenity though...Have you noticed the speakers on the covered bridge that emmulate the sound of 12 mile creek?

It would also be difficult to build these lovely communities without mass grading of the site.

Keep in mind that when Myers Park was developed there were no trees either.
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Old 11-18-2008, 06:05 AM
 
Location: Waxhaw, NC
293 posts, read 955,051 times
Reputation: 65
Quote:
Originally Posted by Casey123 View Post
I've posted on this before, but the Charlotte Rifle and Pistol Club has been around for about 100 years, and was on that property long, long, long before subdivisions popped up.

Anybody looking at Millbridge or anywhere around there need to understand and respect that. I have two relatives who are members, and that facility isn't going anywhere.

And my other two cents worth: It seems all these new developments catering primarily to transplants are utterly soul-less, and literally have every tree for acres clear cut down to the clay. Same with Massey off Doby's Bridge. Ugly and depressing. Why totally eliminate the green canopy that is our natural hallmark?

If that kind of a development is a step up from where you current are, then ugh.
We've lived in Millbridge for about 5 weeks now, and the gun range doesn't bother us a bit. I knew all about it before moving here.
As far as the trees and asthetics of the community....I enjoy my views every single day. I have beautiful trees right behind my house, and there are tons of trees along the creek. It's beautiful here! From what I hear, the trees and ground by the shooting range are polluted from all of the sulfur that seeps into the ground from those guns, now maybe they should think of that..so please keep your "ughs" to yourself. People live here (and love it).
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Old 11-18-2008, 09:57 AM
 
Location: Tampa Bay Area Florida
7,937 posts, read 20,285,758 times
Reputation: 2026
Quote:
Originally Posted by blabber View Post
Just keep in mind that if Sandler is in bankruptcy (I'm not so sure about this but please confirm if you know) and if the bank takes anyone of the projects back, they will likely sell to the highest bidder who can then change the covenants, restrictions, and build and/or sell lots to whomever and build whatever they please...regardless of price or exterior materials (zoning restrictions may apply but many of these can be challenged in court)....I think you are right...closer to 2200 Homes...that's a city!

Love the amenity though...Have you noticed the speakers on the covered bridge that emmulate the sound of 12 mile creek?

It would also be difficult to build these lovely communities without mass grading of the site.

Keep in mind that when Myers Park was developed there were no trees either.
Myers park is beautiful...and yes I agree that is always scary when builders start pulling out, as for millbridge none of the builders are expected to pull and if they can wait out the storm so to speak, I think they will all be ok...there are articles about Sandler and Sons on the Internet and they are current, The ammenities are what will sell Millbridge since I have yet to see anything more amazing then theirs...We were building in Millbridge long story we lost the house, but in the end it might have been a good thing anyhow for our situation, but we have decided to stay in this area.att his time..but who knows what the future will hold we were also looking in lawson as well as a few other communities here,,anyhow Millbridge is a beautiful community and will have alot to offer...
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Old 11-18-2008, 07:27 PM
 
Location: Waxhaw, NC
60 posts, read 157,066 times
Reputation: 78
Quote:
Originally Posted by slvrcts04 View Post
We've lived in Millbridge for about 5 weeks now, and the gun range doesn't bother us a bit. I knew all about it before moving here.
As far as the trees and asthetics of the community....I enjoy my views every single day. I have beautiful trees right behind my house, and there are tons of trees along the creek. It's beautiful here! From what I hear, the trees and ground by the shooting range are polluted from all of the sulfur that seeps into the ground from those guns, now maybe they should think of that..so please keep your "ughs" to yourself. People live here (and love it).
Can't help but be curious about where sulfur contamination comes from that's seeping into the ground over at the shooting range?
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Old 11-18-2008, 08:00 PM
 
Location: Waxhaw, NC
293 posts, read 955,051 times
Reputation: 65
Quote:
Originally Posted by REMINGTIN7 View Post
Can't help but be curious about where sulfur contamination comes from that's seeping into the ground over at the shooting range?

I'm guessing from the gun powder that has settled over the 100 years that it's been open????
This is what a member of the range told my husband. Makes sense to me.
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Old 11-18-2008, 08:02 PM
 
Location: Waxhaw
138 posts, read 411,036 times
Reputation: 66
Sandler itself, I do not believe is in bankruptcy. My understanding is that for every community they develop, they form an LLC, or its equivalent. Those developments that were hardest hit )along the eastern coast, Florida and Las Vegas) have filed bankruptcy. As for the communities locally, they were the best performing of the bunch until recently. Any money flow issues now, are the result of lagging lot sales affecting the ability of the developer to pay down the construction loans to free up $$$.
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Old 11-18-2008, 08:33 PM
 
Location: Tampa Bay Area Florida
7,937 posts, read 20,285,758 times
Reputation: 2026
the bank only funded the ammenities center because the residents were promised and were sold homes under the pretense it would be open....they denied the rest of the loan originally, but took another look after GS Carolina basically said that the project needed to be finished so they can sell more lots/homes...because once that opens, people will actually see people and that it isnt just something that is sitting here...I know I've asked an atty about it and im just relaying what she told me..and that they are in awful financial trouble, and the builders are obviously having a hard time selling lots...I do know there are tons of construction leins up in the carey location...Again, It will be a great community once this resession is over, but not everyone can wait that long...but people need to do their homework....and that is one's decision to make..I know all the articles in the Ft Mills times mention bankruptcy which was related to some of the local projects, like massey and millbridge...no developer is perfect, as they all have their flaws and in these bad economic times, its just hitting the builders and developers right in the pockets...I know Virginia where they are out of they are in alot of financial trouble as well...so even though they do different LLC if the project isnt making money then I would think they would need to figure a way out...we have friends who live in Millbridge they are happy, and at the end of day, people just need to be educated, we personally love what it has to offer, it didnt work out for us now but who knows in the future we havent ruled anything out...
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