Officials from the City of Hoover and Signature Homes broke ground today on the new subdivision at Chace Lake on Highway 31. Signature Homes will be developing the property bordering the Cahaba River that was the former site of Chace Lake Country Club.

The development, located in the heart of Hoover, will consist of both residential and commercial sites. Residential plans include approximately 215 home sites, consisting of 16 home designs ranging in price from mid $200,000 to mid $300,000. Reservations of home sites will be accepted beginning in the spring of 2009.

Part of the development includes a 35 acre park which will be donated to the City of Hoover for public use. In addition, 7 1/2 acres will feature three large lakes that will border the Cahaba River.

"The City of Hoover is excited about Signature Home's development of Chace Lake subdivision and new park," said Mayor Tony Petelos. "The Chace Lake area consists of beautiful trees that will be retained and with the addition of walking trails, residents of Hoover will have another green area for their enjoyment. The Cahaba River will also reap the benefit of better water quality since the run off will flow into the lakes providing water quality enhancement before flowing into the Cahaba."

With the addition of Chace Lake, Signature Homes is building in 6 new home communities in Hoover including Ross Bridge, Beaumont, Chapel Creek, The Preserve, and Trace Crossings.

The property for the subdivision is located approximately half a mile south on Highway 31 from the Riverchase Galleria across from the Plaza at Riverchase.