JV Planning Major Golf Resort Community

KNOXVILLE, TN-A 1,450-acre golf resort community will be developed southwest of here by Medallist Developments, a joint venture between professional golfer Greg Norman’s Great White Shark Enterprises and Macquarie Bank of Australia. The joint venture recently agreed to develop the waterfront property in partnership with the landowner, Chattanooga businessman John Thornton.Located near the confluence of Interstate 75 and State Highway 72 in Loudon County, the property will eventually hold 1,700 home sites, an 18-hole golf course and country club, a community marina and a wellness center. The development, which will be phased in over an eight-year period, is expected to be worth more than $500 million once it is completed. The initial phase of development will begin this summer. Thornton has owned the property since 2000. “When I first purchased the property, I knew this could evolve into a very special place,” says Thornton. “Medallist and Greg Norman have refined the vision for Tennessee National.” The current land plan includes a variety of residential homes ranging from large, waterfront home sites to golf villas within the community’s marina village. The major draw for the community will be the Norman-designed course, which will be the only signature championship course in the area. Tennessee National will be the fifth golf community developed in the US by Medallist. The others are Norman Estates at Tiburon in Naples, FL; Wild Heron in Lake Powell, FL; Norman Estates at PGA West in La Quinta, CA, and; Savannah Quarters in Georgia. All told, Medallist has developed 17 communities in the US, Australia and Mexico.