The Mills at Rocky River in Cabarrus County(concord)NC (Charlotte: HOA fees, new home)

[mbw27]

We are looking at purchasing a new home and we looked at this subdivision "The Mills at Rocky River"(Cascades) now on the website the master plan looks beautiful and the talks of a town center with a grocery store etc,and a large club house with a swimming pool and Waterwheel was supposed to be built at the entrance however when we drove by it looked desertedthere were a few homes ,but there was wild grass everywhere and the clubhouse was built but it was just left vacant ..

I just read that the developer Croswinds went bankrupt and all these "lovely plans "they spoke about in 2006 just went down the drain and the subdivision was pretty much abandoned "as-is"..And i heard that Ryan Homes is now starting to build again in the subdivision but they cannot say when there will be a pool or clubhouse opened anytime soon or if any of the other ammenities will ever be added to the subdivision at all ..So my question is ..Can anyone tell me if the subdivision will see any growth in the near future ?And would it be a bad investment to buy and build a home in this particular subdivision ?Because we have seen instances where the builder will get as many people to buy into a Subdivision and make promises of how beautiful it will be when they have no intentions of finishing it & then they pack up and leave the community in shambles.

[goldenage1]

Originally Posted by mbw27

So my question is ..Can anyone tell me if the subdivision will see any growth in the near future ?And would it be a bad investment to buy and build a home in this particular subdivision ?

I see that Ryan Homes is advertising the development on their web site, with houses starting in the $180's. However, they make no mention of amenities like a pool or clubhouse. So they are not promising anything. Obviously no one can tell you whether it would be a good investment without the amenities. I would research whether there is an HOA, and look at the prices in comparable communities. Also look at the economy in the surrounding area, and whether there are enough people to buy homes in this price range.

FWIW, Ryan Homes' website is here: Buy New Homes in The Mills at Rocky River Cascade - Ryan Homes

[mbw27]

This is the website we saw which states:"At The Mills, you will experience the best of both worlds. The Mills Town Center will offer a traditional Main Street — from lunch and dinner eateries to boutique shopping, banking and dry cleaning — all an easy walk from home. The Riverside Center will include a resort style pool, splash pool, sundeck, soccer fields, fitness center, basketball courts and clubroom for your enjoyment. Plus, over 30% of the community's 500+ acres will be open green space, with rolling meadows, unspoiled woodlands, great hiking terrain and access along the Rocky River for fishing and more! The best of hometown life and the best of the natural life. Enjoy both every day at The Mills at Rocky River" The Mills - Come Back to Life

[mbw27]

Also they state there is an HOA but it is supposed to cover the grass and such, whichRyan Homes also stated if they add any amenities the HOA fees would go up much higher..

[goldenage1]

Originally Posted by mbw27

This is the website we saw which states:"At The Mills, you will experience the best of both worlds. The Mills Town Center will offer a traditional Main Street — from lunch and dinner eateries to boutique shopping, banking and dry cleaning — all an easy walk from home. The Riverside Center will include a resort style pool, splash pool, sundeck, soccer fields, fitness center, basketball courts and clubroom for your enjoyment. Plus, over 30% of the community's 500+ acres will be open green space, with rolling meadows, unspoiled woodlands, great hiking terrain and access along the Rocky River for fishing and more! The best of hometown life and the best of the natural life. Enjoy both every day at The Mills at Rocky River" The Mills - Come Back to Life

Agreed, that's a nice web-site. The most recent news release on there is 2007. I would call the toll-free number (1-866-96-MILLS) and see if anyone answers. I'm betting they won't if the developer went bankrupt.

BTW, you might move this question over to the Charlotte area sub-forum, where you're more likely to find someone with on-site experience of the community.