Centennial Bank takes over subdivision

SPRINGVILLE (Daily Herald) -- Centennial Bank has taken the reins on Jessie's Brook Subdivision in Springville now that a series of developers have left it stagnant.

The property has changed hands a few times since Fieldstone Homes' initial development, and the current guard has left realtors and Springville City itself in the dark on about 55 acres of property with unfinished infrastructure and unsold lots.

DCP Jessie's Brook LLC gave its lender, Ogden-based Centennial Bank, the property deed for two of the subdivision's phases in lieu of foreclosure last week, Centennial vice president Alan Thompson said.

Centennial now owns 70 lots in two different plats, while Cache Valley Bank ended up with about 50. Dave Barnett, real estate broker for Heart 2 Home Real Estate and former agent for Jessie's Brook, said they shouldn't be too hard to sell. The last lots he sold, close to half an acre each, went for $65,000.

"It's been frustrating," Barnett said. "We've had people that wanted to buy lots down there, but haven't been able to get them under contract." He said he has been in limbo for months; his listing is expired with Jessie's Brook, located on 1600 East, but he can't get any answers out of the owners. Barnett's name is still listed as the only contact on JessiesBrook.com, but he couldn't sell anything without say-so from the subdivision owner.

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