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Birmingham Business Journal - by Lauren B. Cooper Staff
Lake Tuscaloosa is slated to get one of its first gated communities in a $35 million development on the coveted lake near the University of Alabama.
B.G. Development Group Inc. plans to develop Legacy Point, a 55-cottage community on 55 acres of the lake, and market the property to Tuscaloosa residents and those who frequent events at the university.
The project is unique, said developer Danny Despot of Birmingham, because of the limited availability of land and homes for sale on the nearly 6,000-acre lake. A five-year quest for property on the lake finally landed him the purchase of the formerly family-owned parcel, he said.
Cindy Harding said the inventory of homes for sale on the lake is in short supply. Harding is an agent at Tuscaloosa's Hamner Real Estate Inc. and said currently there are 21 homes for sale on the lake.
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