Karen-Lee Ryan’s former East Nashville neighborhood had Five Points. Her new one has Three Points, but it’s just as exciting and convenient and even more affordable.

Ryan and her husband, Mark Wood, recently purchased a new home in the Rosebank neighborhood on the east side, not far from what’s known as the Three Points district featuring Jeni’s Splendid Ice Creams, Portland Brew, Wild Cow, Rosepepper Cantina and other attractions.

They discovered the area after moving back from Texas and finding that Lockeland Springs, the neighborhood where they lived for years around the corner from the Five Points entertainment district, had become too pricey.

They are part of a wave of homebuyers now heading to Rosebank and the area surrounding Three Points, where Eastland Avenue and Porter Road meet, with the shops and restaurants of Riverside Village a few blocks north in the Inglewood neighborhood.

“It’s close to everything, but it’s surprisingly quiet. More of a suburban feel” than Lockeland Springs, said Ryan, who was surprised to find cows grazing near her home on land adjacent to the former Cornelia Fort Airpark, now part of the Shelby Bottoms Greenway.

“This is still one of those undiscovered places. It feels so far away from the city, but it’s only four miles from downtown,” she said.

Convenient, quiet

The area won’t remain undiscovered for long, said Jeff Miller, whose company, J. Miller Enterprises, developed the site where Ryan and Wood’s home was built. Hart-Love Enterprises constructed the house.

“I like East Nashville on a personal level and started looking around,” said Miller, who is developing four 2,200-square-foot homes on Carter Avenue. Two have been purchased and one is under contract. Prices are in the $360,000 range.

Buyers are eager to find affordable, new construction in the heart of the city, said Miller, who previously built homes in 12 South and Sylvan Park. Skyrocketing prices in those neighborhoods encouraged Miller and his customers to turn their gaze east.

He was pleased to find quiet neighborhoods close to parks, restaurants and entertainment at Three Points and at Riverside Village, located at the corner of Riverside Drive and McGavock Pike. It features Mitchell Delicatessen, Castrillo’s Pizza, Village Pub, Watanabe Restaurant Sushi Bar and other shops.

“It has a real family neighborhood feel to it,” Miller said. “Lockeland Springs is a little more urban. This is quieter.”

Jeremy Kelton, who is building two houses on Branch Street, around the corner from Riverside Village, said the area is attractive to a new generation of homebuyers who have no interest in moving to the suburbs.

“They are single or young professionals who are jazzed about being able to buy a house in a cool neighborhood. Riverside Village is the selling point. People who want to live in the city want to be near places to eat and drink,” Kelton said.

His houses have 1,300 square feet and are priced at $250,000. They feature metal roofs, open floor plans, granite countertops, hardwoods, tile and encapsulated crawl spaces for energy efficiency.

The house purchased a few blocks away by Ryan and Wood also has a modern, open floor plan, hardwoods, designer finishes in the kitchen, a coffered ceiling in the master bedroom and a feature that many older homes in the neighborhood don’t have — large closets.

Growing fast

At North by NorthEast Development, partners Steve Mabee and Nathan Weinberg plan to build 25 homes in East Nashville this year. Many of those will be in Inglewood and are presold.

Even when zoning allows construction of two houses on a lot, the company has a one lot-one house policy in order to preserve the character of the neighborhood, Mabee said.

The company recently completed a 2,490-square-foot home on Kirkland Avenue, not far from Riverside Village. The house has a half-acre-plus yard, four bedrooms and four baths. It is listed for $415,000.

About half of the company’s clients are single homebuyers who want to live in an urban neighborhood, Mabee said.

Riverside Village is a “big motivator” for development in the area, he said. “People like walking to a restaurant.”

Kelton predicts the area will grow in popularity.

“I don’t believe Inglewood is a secret anymore,” he said.

Reach Bill Lewis at 615-262-5862 or wlewis77229@comcast.net.