Back to News
Mountaintop development Jasper Highlands lifts Marion County's economy
A New Study from University of Tennessee Chattanooga estimates the development has added nearly $15 million in annual household earnings in Marion County.
When John 'Thunder' Thornton bought Jasper Mountain in 2008 to develop one of Tennessee's biggest mountaintop communities, the Chattanooga developer initially encountered some skepticism in Marion County where previous resort-style developments at the Rarity Club on Nickajack Lake and Sequatchie Pointe atop Sand Mountain had both stalled and ultimately led to bankruptcies and even criminal indictments for fraud.
The housing collapse amid the Great Recession in 2008-2009 added to the initial concerns and led Thornton's Thunder Enterprises to delay the start of the project and scrap an initial plan to pursue an 18-hole golf course like what he had been involved in elsewhere in East Tennessee.
But ultimately, that proved beneficial and Thornton has been able to capitalize on both an improving economy and aging population to draw homebuyers from across America to Marion County. A decade after the first lots were opened up atop Jasper Mountain, the development has sold most of the nearly 1,300 residential lots and created a new community of relocated residents from all across America who are settling down in the mountain overlooking the Tennessee River.
'It vastly surpassed my expectations,' Thornton said in a recent interview. 'I think we're at least two years ahead of our schedule and it's been great to watch the community grow and bond with people coming here from all over the country.'
Jasper Highlands has attracted buyers from 48 states and eight countries and is projected to bring nearly $700 million of new investment into Marion County by the time the property buyers build homes on their lots over the next decade.
A new study on the economic impact of Jasper Highlands by University of Tennessee at Chattanooga Economist Bento Lobo estimates the development has added nearly $15 million in annual household earnings in Marion County and created and supported more than 250 jobs at local shops, restaurants and building companies, including the Kimball-based Thunder Enterprises.
'John (Thornton) has turned what was just undeveloped wooded property into an amazing community that is drawing national attention,' said J. Harvey Cameron, a long-time Jasper attorney who has worked with Thornton.
Geoff Post, the chairman of Tower Community Bank in Jasper who watched the growth of Jasper Highlands over the past decade, said those buying into Jasper Highlands are also giving a boost to local merchants, clubs and churches. Most of the residents are retired or near retirement and Lobo estimates the volunteer help offered by Jasper Highlands residents is worth more than $5 million a year.
A different building approach
Post said Thornton distinguished himself from other outside investors who tried unsuccessfully in the past to build major developments because of Thornton's persistence and commitment to quality.
'John was a very much a different breed,' Post said about Thornton. 'He approaches everything from the perspective that it is going to be first class or I am not going to do it. John was a breath of fresh air and he has helped create a community that is very special and has had an impact way beyond the gates of Jasper Highlands.
The gated community atop Jasper Mountain above Kimball, Tennessee includes miles of hiking and biking trails, two swimming pools, tennis and pickle-ball courts, a dog park, a membership wellness center, and several community parks for the residents of the community.
But in a small commercial village at the entrance to Jasper Highlands, both visitors and residents are welcome. One of the most popular parts of Jasper Highlands is a gathering place at the entrance of the development known as the Top of the Rock restaurant and microbrewery. Built on a clifftop overlooking the Tennessee River, both residents and visitors who come to the restaurant enjoy a view for miles of the Sequatchie Valley.
The restaurant, which is operated by Chattanooga's Square One, opened in October 2019 and has proven a popular lunch and dinner destination, along with its Sunday brunches, for many visitors who travel to the top of the mountain to enjoy the food and the view.
'People come from all over the region to enjoy the view and food at Top of the Rock, which has been a great success,' said Dane Bradshaw, president of Thunder Enterprises.
Thornton has previously developed upscale rural retreats in Wyoming, Utah, Hawaii and elsewhere in East Tennessee. He developed the Crescent H ranch next to the Grand Teton Mountains near Jackson Hole, Wyoming, but has focused his development in recent years in his home state.
'The Tetons are pretty and you can add a zero on to the price of about everything out there,' Thornton said. 'But I want to live in East Tennessee which is much for affordable and just as beautiful, in my mind. I think this is the greatest state in the country.'
The affordability, friendliness of the people and the climate — both the weather and politics — continue to draw new residents, Thornton said.
'People are leaving high-tax states and big cities and really can't believe what their money can buy in East Tennessee,' he said.
Most of the residents are retirees or those about to retire and have bought into Jasper Highlands as the primary residence, Lobo said. With few children on the mountain and relatively little crime, 'they put very little burden on county services so it's really a windfall for Marion County,' Thornton said.
The developers built the road up to Jasper Highlands and when local utilities and fire agencies initially said it would be too expensive to serve the mountaintop community, Jasper Highlands created its own water utility and volunteer fire department.
State regulators later objected to the developers' water system rate-setting process and Thunder Enterprises agreed to sell the water utility to Tennessee American Water. The broadband internet service was sold to Sequatchie Valley Electric Cooperative.
Marion County Mayor David Jackson said Jasper Highlands helped spur a record addition of more than $50 million of new home construction last year in Marion County. The extra property and sales tax revenues generated by the development and other growth in Marion County helped the county to roll back its property tax rate by 40 cents per $100 of assessed property last year after the countywide property reappraisal was completed.
'We're seeing a lot of growth and that helps our tax base and allows us to keep rates lower,' Jackson said.
The 8,893-acre mountain community at Jasper Highlands is currently home to about 350 residents. When fully developed, Jasper Highlands is expected to comprise over 1,200 homes and 2,500 to 3,000 residents.
'While the community is not marketed as a retirement community, homeowners are mostly pre-retirees and retirees,' Lobo said in his economic report. 'Some 86% of residents consider Jasper Highlands to be their primary residence.'
The lots in Jasper Highlands typically range from one to five acres in size and sell anywhere from $70,000 for interior lots up to more than $800,000 for some of the prime bluff-view lots near waterfalls.
Another mountain to climb
Based upon the success of Jasper Highlands, Thornton has begun work on a similar but potentially even bigger development on Aetna Mountain just 9 miles south on the other side of the Tennessee River. Thunder Enterprises recently acquired 7,400 acres just off of the Interstate 24 Haletown exit, Exit 161. The area , which is largely undeveloped, is also about 10 minutes closer to Chattanooga and overlooks the Tennessee River.
Thunder Enterprises has begun building a bigger road up Aetna Mountain and the first lots in the new development are expected to be ready for sale later this year. The entire project is likely to take seven to 10 years to sell out, Thornton said.
The Marion County Planning Commission recently approved 398 lots in the first phase of the new Aetna Mountain development.
'We think this potentially could bring even more new people to our county than Jasper Highlands and may end up having more lots and being priced perhaps a bit higher with plans for even more amenities,' Jackson said. 'Marion County is certainly growing.'
From Chattanooga Times Free Press
By Dave Flessner
Source