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WEDNESDAY, JUNE 20, 2007
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River condos list fills quickly
Others willing to wait in line, developer says

By Paul Huggins
phuggins@decaturdaily.com 340-2395

People will pay to be near the water, and they're willing to wait in line, too.

That's what the latest riverfront development in Decatur shows.

A week ago, Britt Sexton of Waterfront Investments LLC announced plans for a 12-unit luxury condominium next to Rhodes Ferry Park with prices ranging from $312,000 to $439,000. In less than a week, all 12 units have deposits from interested buyers.

"It's really been unbelievable, and we've started a waiting list," Sexton said. "The response has been overwhelming."

Two reservations came from out-of-towners, and the rest from around Decatur. Some wanted the condo for a primary residence and some as a second home, Sexton said. One deposit came from a man who spends half his time in California and half in Decatur.

"All were drawn to the water," he said. "It's fortifying what these experts have told us that we need to recognize our greatest asset, which is the Tennessee River, and focus in on it."

Limited space

Even though demand is high for the units, Sexton said, he couldn't have designed a larger development because he's landlocked and limited on parking.

Each unit will have one designated parking space as well as extra spaces. Though the development will have enough parking spaces to support the condos, Sexton is asking the city to add 21 spaces to Market Street Northeast.

Those extra spaces will support the commercial operations already in place, such as Market Street Deli. Sexton said a new tenant above the deli, a locally owned software company, has quickly grown to 15 employees.

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