The new home community called Lake Ridge located in the recently annexed Tega Cay South Carolina is beginning to take shape. Clearing began at the beginning of the year and Toll Brothers Builders has recently begun new home sales at Lake Ridge at Tega Cay.

Lake Ridge is a 435 acre 830 new home master planned development site located on Gardendale Road between Dam road and New Gray Rock Road in Tega Cay. The Lake Ride community is not on the Tega Cay peninsula but still located within walking distance to Lake Wylie.

Drake Capital LLC purchased the once called Gardendale development site from Cornerstone Development and renamed the development Lake Ridge. Drake Capital’s master plan includes a 7,000 sq ft club house, competition size pool, kiddy pool, multipurpose courts and tennis courts. The club house is estimated to be completed by Memorial Day 2009.

The Club House

Here is a link to a update post July 2009 about Lake Ridge changes.

Toll Brothers, a national luxury home builder, has begun their portion of the master planned development by offering single family homes located in two communities with multiple floor plans. One community is called Lake Ridge Carolinas the other Lake Ridge Executive. Toll Brothers plans to sell and build on approximately 167 home ½ acre sties planned for these two new communities within Lake Ridge.

In addition Toll Brothers is promoting the following selling points and amenities:
• Wooded Neighborhood
• Easy commute to Uptown Charlotte, South Park and Ballantyne area via I-77
• Pocket Parks
• Lake Nearby : Walking Distance to Lake Wylie and the Catawba River
• Shopping Nearby : Adjacent to the quaint Restaurants and Shops of Baxter Village
• Clubhouse : Approximately 7,000 sq.ft.
• Walking Trails : 2 Miles of Walking Trails intertwined with Pocket Parks
• Multi-Purpose Courts including basketball and tennis.
• Pools

The Carolinas portion of Lake Ridge community is offering 6 floor plans that range from 2,600 to 3,500 square feet and prices ranging form $467,000 to 509,000. The Executive portion of Lake Ridge community is offering 5 floor plans that range 2,900 to 4,500 square feet and prices range from $555,000 to $612,000. Lake Ridge is located in the Fort Mill School District.

Jeff Leforce with Drake Capital said he is in discussions with several other home builders for the remaining lots. Jeff predicts the next group of lots to be developed will be age restricted living most likely ranch homes for ages 55 and over.

Information was gathered from the Toll Brothers website and Jeff Leforce from Drake Capital. Buyers and sellers considering this new development as a possible future move can contact Carmen for more information or see her Toll Brothers Homes at Lake Ridge feature page.

The Tega Cay City Council says yes to the first reading to annex Duke Energy property near the Lake Wylie Dam. The annexation will add two large parcels of land to the city to help complete a 80 acre Catawba River Park plan. The park will be located south of New Grayrock Road.

Drake Capital donated approx 10 acres for the park.  The rest of the land for the park will be leased from Duke Energy.

The city is planning a

• Gymnasium
• Four baseball fields
• Walking trails
• Multipurpose fields
• Disc golf course
• Fishing piers
• Canoe and kayak launch
• Parking lot
• Dog park which is already in place.

The city hopes to raise money from state and federal grants, private donations, and use hospitality tax revenue.

The Central Bark dog park was relocated recently to the 10 acres that is already in the city limits. The city of Tega Cay hopes to begin engineering plans and permitting for the rest of the 10 acres but estimates it could take as much as 18 months to complete the initial phase while the city continues planning, fund raising, permitting, etc for the 70 acres.

Tega Cay Mayor Bob Runde published an update in December 2007 of the new retail and housing development under construction. The Stonecrest and Graystone developments are located in newly annexed Tega Cay on SC highway 160.

The Mayor’s update:

• Wal-Mart – The building is on schedule for completion in January. This will allow a March opening.
• Petro-Express – The new Petro Express is open and represents the first commercial property
  operational in Stonecrest.
• Graystone Crossing – The ribbon cutting ceremony took place today.
• Taco Bell will occupy an out parcel and a second out parcel will be occupied by a restaurant, which has
  yet to be announced. Announced tenants are a Nail Spa, Benjamin Moore Paint, Great Clips, Smile
  Cleaners and Fresh Fruit Boutique Company. It is anticipated there will also be a national Wireless
  Company, a Women’s Dress shop and another restaurant. Eighty to Ninety percent occupancy is
  expected by April.
• Stonecrest Villages – These retail stores should be completed in the first quarter of 2008.
• The Terraces at Stonecrest – This project will consist of 71 town homes on the south side of Hubert Graham
  Way. Final approval is pending.

To read more of the Mayor’s update Click here