River Rock home at Alexander Farms / Photo by Jason Benavides
July 7. By Dave Vieser. It’s been almost four years since the Cornelius Town Board gave the green light for a major mixed-use development on the 55-acre Alexander Farms property. The basic layout had retail near West Catawba, an active adult facility aadjacent to the retail segment, and private homes for leasing.
Back in 2021 Florida-based WIN Development said that the retail elements would come first, while the active-adult construction would likely start shortly after the retail aspects commenced.
The residential homes in the rear would come later as permits cannot be pulled for those units until the infrastructure—roads, utilities, etc.—are in place.
Fast forward spring 2025
Things haven’t worked out that way.The homes have been built, and about half have been leased. However, the active adult facility and retail stores, key elements in the $110 million project, are nowhere to be seen.
Much has already been written about the financial issues which halted the retail segment, and have seriously impacted the start of the active adult facility, to be known as River Rock Manor.
Bottom line: Until WIN Development can resolve the fiscal problems caused by the death of one of their funding partners, these segments will likely remain either unbuilt or significantly delayed. Jesse McInenry of WIN Development declined to comment for this article.
However, the residential section is progressing.
River Rock Village comprises 70 single-family homes designed and marketed for leasing. Construction began in 2024 and as of June 1, all have been completed and approximately 35 have been leased.
“River Rock Village at Alexander Farms is an Easy Living Community, which means it is maintenance free living,” said Sean Cullen, vice president of development for River Rock. Rates range between $3,200 to $3,600 a month.
River Rock Manor
WIN Development was contractually required to complete all the bonded infrastructure work by Jan. 6, 2024.
They have had challenges obtaining the proper capital in order to meet obligations to the town, Mecklenburg County and River Rock.
The failure to meet infrastructure obligations has had an impact on the Manor’s construction, according to Daniel Hughes, River Rock co-founder.
“We are hopeful that there is resolution on the remaining work over the next 30 days or so and River Rock can then begin construction of its Manor by early fall 2025, with Phase 1 anticipated to open in fall 2026,” Hughes said.
Pricing for these residences will be released by River Rock officials closer to opening.
River Rock Manor will be a 142-unit, three-story building, also designed as an Easy Living Community. Amenities include a two-story clubhouse with a resident lounge, coffee bar and café as well as a heated resort-style pool with sundeck.
So when will the city revoke the bond and complete the infrastructure work?
Posted by Bucky Dornster | July 7, 2025, 10:22 amTime, no past time to call the bond. What are we waiting for. The death is unfortunate, but a lot of time has passed. A very black mark for Cornelius.
Posted by GarvVanDoren | July 7, 2025, 11:37 amThis just sucks! They came in with a wrecking ball and destroyed most of the trees and natural land. The homes all look the same and there is nothing special about the neighborhood! Now Cornelius residents are left with an eye-sore of undeveloped land. Such a disgrace. Is there a claw back clause to regain control of the property now that the developer is in serious default?
Posted by Becky Johnson | July 7, 2025, 12:41 pmWere are all these cars going to go? Traffic already backed up for miles and new apartments going up on Catawba. Don’t you think the infrastructure for street should have come first? This would have been much better as a shopping area because it would not have added more residents.
Posted by Gwyn Freeman | July 7, 2025, 5:59 pm