BY CHAD CALDER
Advocate business writer
July 24, 2012
A joint venture of local developers aims to bring the dormant 25-home Casa Colina development off Highland Road back to life.
Todd Waguespack, John Engquist, Roland Kimbrough and Jack Iverstine just bought the roughly 25-acre property from First American Bank.
It had fallen into foreclosure under a previous development group in 2007.
Waguespack said Wednesday that after adding water and gas lines to the existing infrastructure, the group soon will begin building custom homes.
Waguespack said three of the lots already had been sold when they bought the property, and plans for a front entrance, lighting and landscaping are in the final review stages.
“We hope to be selling in late August,” he said, noting Casa Colina should be fully built out in about three years.
Waguespack said the homes will range from 2,500 square feet to 4,000 square feet and start in the high $400,000 range. He said it was hard to say how high prices could go, noting there are $2 million homes nearby in Providence.
“With such a great location, you never know,” he said.