For more information please call 317-814-4788 or click here.
Q. Where is Lost Run Farm and how many home sites are in the neighborhood?
A. Lost Run Farm is located at the southwest corner of Templin Road (121st Street/C.R. 550 South) and Michigan Road (U.S. 421) on the former Woodard family equestrian farm. There are only 21 home sites developed on 37 acres at Lost Run Farm. The neighborhood is comprised of an additional 43 acres, including creeks, ponds, trails, and meadows.
Q. What amenities are included in the common areas?
A. There are many lifestyle amenities available in Lost Run Farm, including
• Sports Activity Meadow
• 1.5 miles of Trails, winding through native, mature trees
• 2 ponds
• Eagle Creek, Little Eagle Creek, and Lost Run Creek
• Events Barn with guest parking
• 2 Permanent picnic spots – Picnic Pavillion and Little Eagle Creek Picnic area
• Fire Pit Site
Q.What is the range of home site prices in Lost Run Farm?
A.Home sites are currently priced from $400,000 to $600,000.
Q. Is Lost Run Farm a gated neighborhood?
A. Yes, the gates are installed and fully operational.
Q. What are some of the most important covenants at Lost Run Farm?
A.There are restrictive covenants and restrictions that govern building at Lost Run Farm. We recommend a careful review of the Lost Run Farm Declaration of Covenants, Conditions and Restrictions before the final decision to purchase a home site is made. A few of the major points include:
• Minimum square footage requirement of 4,000 square feet of livable area above grade.
• All homes must have an attached garage for a minimum of three vehicles.
• All exterior materials and colors need to be submitted prior to home construction to the Architectural Review Committee for approval.
Q. Is there a Homeowners Association at Lost Run Farm?
A.Yes, there is a Homeowners Association at Lost Run Farm. Because the roadways inside Lost Run Farm are privately owned by the Association, the Association dues will provide for snow removal and maintenance of all roadways in Lost Run Farm. Also included are all insurance expenses and all aspects of landscape maintenance of the common areas. The annual dues are currently $6,000 per home site.
Q. Is there a list of builders we must use if we purchase a home site in Lost Run Farm?
A. No, Lost Run Farm welcomes all quality custom builders. To maintain the beauty of the community, however, all building plans, landscape plans and site plans must be approved prior to the start of home construction by the Architectural Review Board.
Q. Is there a time requirement to start construction at Lost Run Farm once you purchase a home site?
A. No. However, homeowners are required to maintain the appearance of their sites in a manner consistent with the remainder of the community.
Q. How many home sites are there and will that ever change?
A. There are 21 total home sites in the community, with 5 lots still available for sale. The total number of lots will never increase, as the vision for this property was to create a small number of luxury estate home sites, where each site owner could benefit from the use of a large estate setting, while sharing in the care and maintenance of the community.
Q. What other unique features exist at Lost Run Farm?
A. There are unique landscape features designed to enhance the beauty of Lost Run Farm, such as:
• The surrounding wall is an Artisan Indiana Sandstone Wall. This hand-cut wall lines the front of the property and offers function and beauty. Each piece of stone was quarried locally in Indiana, and the wall was built like a puzzle, with each piece measured and cut for a specific purpose.
• The “living fence” positioned at the entrance contains espaliered apple trees. Espalier gardening is a process where the trees are bred to grow in a distinct shape or pattern, and our apple trees are designed to grow in a fence-like structure. Thus, the “living fence” is comprised of three different types of live apple trees. Taste one for yourself!
• The roses adorning the wall are a variety known as Super Dorothy True English Vining Roses. These roses also comprise a portion of the “living fence”, and bloom a beautiful shade of pink in the spring.
• The weir, or waterfall, feature that runs underneath the entry bridge is used to help circulate water flow between the two ponds. The ponds are on a recirculation system where water from the lower pond feeds the upper pond. The water from the upper pond then cascades over the weir, thus helping to control the flow of water between the ponds. Oh, and the sound of the waterfall immerses yourself in the serene setting.
Q. What was this area before it was Lost Run Farm?
A. The land comprising Lost Run Farm was originally a horse farm owned by Ronnie and Lucy Woodard. Called Arbywood Farms, Ronnie owned thoroughbred and steeplechase horses, including Team Spirit, the 1964 British Grand National winner. Lucy Woodard bred and raised champion dogs at Arbywood. Ronnie, an investment banker at Raffensberger Hughes & Co. was also a world traveler, an amateur race car driver and at one time an owner of the Indiana Pacers.
Q. What is the tax rate here in Lost Run Farm?
A. Current property tax legislation in Indiana caps property tax values at 1% of the property value for homes, and 2% for other residential property, including developed land (but without a home). This equates approximately to $10 for every $1,000 of a home’s value, or $20 for every $1,000 of value for the developed land. This excludes any mortgage, homestead or other credits potentially available to a resident.
In 2012, Zionsville voters approved a local school funding referendum. The local schools tax is 24.44 cents per $100 of assessed home value (0.2444%).
Q. Is seller financing available at Lost Run Farm?
A. Yes. The seller is willing to finance the purchase of a lot in Lost Run Farm, and is open to financing options. One such option would be to finance the cost of the lot for a 3-year term, with interest only payments due during the term, at an interest rate equal to Prime.
Q. How do I find out more about Lost Run Farm?
A. To request more information on Lost Run Farm, or to schedule a convenient time to tour our home sites, please contact Brian Henderson at (317) 814-4788 or firstname.lastname@example.org
Q. What schools would our children be attending?
A. If attending public schools in Zionsville, children in grades K-4 would attend Pleasant View Elementary School. Children in grades 5-8 would attend Zionsville Middle School. Children in grades 9-12 would attend Zionsville High School. Zionsville boasts one of the top educational systems in the State of Indiana. More information about these schools may be found at Zionsville Community Schools. In addition to the Zionsville Schools, a number of well-respected private schools are within a reasonable distance of Lost Run Farm.
Q. Are copies of the covenants and building regulations available?
A. Yes, please click here. Please click here for a copy of the Lost Run Farm Architectural Review Board Register of Regulations.