City's real estate market is quickly expanding and providing residents with plenty of great options.
Given that most people spend a large portion of their time at home, it’s important for individuals to find a place that suits their personalities and meets their needs. If you are looking for a new home in Oak Ridge, TN, you will find a variety of living options that makes finding that “perfect oasis” an easy task.
For years, the Oak Ridge Chamber of Commerce has prioritized housing, recognizing that many people who work in Oak Ridge commute from outside the region.
To dig deeper into this issue, the Chamber developed a task force in 2014 to create a situational analysis regarding housing and residential development in Oak Ridge versus surrounding communities.
Through its research, the Chamber identified that there was a huge gap in real estate in Oak Ridge. There were not any houses in the $180,000-$280,000 price point that someone in their 30s with a growing family would want to buy.
On the Grow
Over 600 new homes have been constructed since 2019.
To address this issue, the Chamber presented a Statement of Work to the City of Oak Ridge in 2015, proposing that it sanction the Chamber to develop a housing report that detailed a 10-year vision, mission and strategies for Oak Ridge. In 2017, the Chamber presented its report, which included a mission to attract, encourage and support private developers to create new subdivisions, apartments and mixed-use spaces in the area, which has been done.
There have been over 600 new homes constructed since 2019 and even more are on the horizon, which is exciting progress considering that more and more people are calling Oak Ridge home.
Oak Ridge’s older neighborhoods and its newer developments provide quite the variety of homes. For those looking for something a bit smaller, apartments and townhomes are available. For example, British Woods, an apartment complex nestled among neighborhoods in the heart of Oak Ridge, offers one- and two-bedroom apartments as well as two- and three-bedroom townhomes. A number of amenities, from a fitness center to a playground and an outdoor fire pit are available.
“We have housing for the first-time homebuyer all the way to the family with several children, (the) multigenerational family, and then down to the empty nester who wants to downsize.”
Ashley Mullins, principal broker for Realty Executives Associates
For those who prefer an apartment closer to downtown, Main Street Lofts is a must. Not only does the complex link to a walking and biking trail that leads to Main Street Oak Ridge’s retail hub and A.K. Bissell Park, but residents are in walking distance of a movie theater, bowling alley and more.
In addition to young professionals and couples, Ashley Mullins, principal broker for Realty Executives Associates, says the region’s apartments are especially useful for transfers who are doing contract work for the government and only reside in the area for about two years.
The Preserve, a master-planned community that has eight unique neighborhoods, offers houses of different sizes and price points. A few examples within the community include The Overlook, which has over 40 homes, and The Estates, which offers hundreds of lots with gorgeous lake and horizon views.
“That is a really great community that is really the first of its kind in Oak Ridge, and it’s more of a lifestyle-type of living where you have (several amenities),” Mullins says. “And people are finding that really attractive, whether it be young families or retirees.”
And as for those with their sights set on more specific styles of homes, such as large six- and seven-bedroom houses complete with large backyards and updated amenities, or small farms just outside the city limits with plenty of land for animals to graze, those can also be found in and near the Oak Ridge region.
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