Asian Invasion 20

I haven't done an update on the 400 acres in Hotchkiss Valley now primarily owned by 125 Chinese/Asian investors.

Nothing has really changed much on their end but the county has taken several actions that definitely will impact the property. Last year the commission passed a resolution that prohibits the county planning department from issuing any building permits for any property, owned by or invested in by, non US citizens from countries hostile to the United States. 

There was also a time when the company who owns the property, Walton Tennessee, was working on a plan to have the property annexed into the city of Loudon. Apparently, Walton has abandoned that plan since they sold the property on the south side of the interstate that would have been part of that plan.

And last but not least, the adoption of the new Article 5, of the county wide planning and zoning regulations, now requires the minimum lot size for property zoned A-1 be 5 acres. The entire 400 acres is zoned A-1. This means the maximum numbers of lots that could be located on the property would be 80 lots. Under the old Article 5, they could have had up to 400 lots.

That's all the update I have for now. I'll let you know in anything changes.  

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9/16/24