Riverchase to offer 'acreage lifestyle'

-A A +A
By Jenny Hartley

A Texas developer building in Lancaster County said one of the first things he learned about Lancaster is that he'd have to pronounce the county's name correctly.

LGI Land President Eric Lipar's comment brought some laughs before officials got down to business for the Lancaster County Economic Development Corp.'s annual meeting on April 14.

Lipar talked about his company's development, Riverchase Estates, which will be built on 2,000 acres on Riverside Road.

Riverchase Estates calls for about 1,200 homes on about 2,000 acres along the Catawba River. The company has set up a sales office on U.S. 521 North in Indian Land.

Lots at Riverchase Estates, which will be a minimum of 3/4 of an acre, will cost about $100,000. Homes will average about 3,500-square-feet, with prices $500,000 and up.

"We focus on buying very large tracts and giving our customers an acreage lifestyle," Lipar said.

LGI Land plans to spend $7 million on amenities for the neighborhood, including a clubhouse with a fitness center, a resort-style pool, walking trails and tennis and basketball courts.

It has pledged to donate 5 acres and $1.2 million toward the construction of a new fire station for the area.

LGI Land will give the county $5,000 per home built in Riverchase. This fee is tied to the consumer price index, so it could rise to as much as $10,000 by the time the development nears completion.

The fees could total between $6 million and $9 million by the time the development is built out.

Lipar said property will be shown to potential buyers for the first time on May 10, and road construction for the neighborhood will begin in June or July.

"Then it's going to be full steam ahead," he said.

A good year for recruiting jobs

After Lipar's remarks, LCEDC President Keith Tunnell recapped highlights of the corporation's year.

He said there has been $95 million in new investments in Lancaster County, with 800 new jobs.

He said the corporation and its allies will continue to work to bring more jobs to the county.

"Eleven percent unemployment is not acceptable," Tunnell said.

Tunnell said the new year is shaping up to be a successful one.

"I think we're on our way to having a better year this year if certain things fall into place," he said.

LCEDC also celebrated a "passing of the gavel" at the meeting, from outgoing chairman Comporium's Tommy Dabney to chairman Kevin Brownlee of Lynches River Electric Cooperative. Dabney is in his last year on the board.

Contact senior reporter Jenny Hartley at jhartley@thelancasternews.com  283-1151