More Homes Slated for Saxony

More Homes Slated for Saxony

More Homes Slated for Saxony

February 10, 2006 – Paraphrased Article from Indianapolis Star

By:  Bruce C. Smith

Executive Homes will begin construction this month on a new section of three-story townhouses in the sprawling Saxony development straddling in Fishers and Noblesville.  The builder already has sections of custom and cottage-style single-family homes that have been selling successfully in Saxony.

"Saxony is becoming a very balanced mix of housing, and the market is showing a very good demand," said Pete Gray, president of Executive Homes and also the 2006 president of the Builders Association of Greater Indianapolis.  Saxony, created by Ohio-based Republic Development, is a growing community of about 700 acres along the east and west sides of Olio Road near Exit 10 of I-69.

South of the interchange in Fishers, hundreds of new homes have been constructed or are planned in that portion of Saxony, including three sites by Executive Homes.  Gray said 15 of the 20 sites in the Reserve at Saxony have been sold in the past year. Those houses are custom and semi-custom designs priced from $500,000.  Executive Homes is also building 90 cottage-style houses, and half of them have sold so far.  He said earthwork will begin soon on a townhouse section of 40 units in seven buildings. The units, with two-car garages inside the ground level, will be priced from $220,000.

Other builders, including Drees and Portrait Homes, are also at work in single-family or townhouse projects near the Executive Homes section of Saxony.  "Location is one of the real keys to Saxony, besides the well-designed mix of homes and business," Gray said. "It is a very nice balance.  "With the interstate so close and the Hamilton Southeastern schools on Olio Road nearby and all the shopping here or announced, everything is convenient," he said.