Maryville-based Rarity Communities on Thursday announced plans for a new waterfront community in Vonore.

In a news release, the company said Rarity Enclave on Lake Tellico will include approximately 100 home sites with French country-designed custom homes, as well as an area set aside for future condos. Planned amenities include walking trails, a pool and private or community boat slips.

In an interview, Rarity chief Mike Ross said the project will be located on approximately 78 acres that were purchased a little more than a year ago.

While the local real estate market has slumped in the face of a national downturn, Ross said the presence of Tellico Lake made the property appealing. "It's a unique piece of property, and we are going to be offering some very attractively priced home sites for what they are," he said. "So we feel like there'll be a demand for it."

According to the news release, a priority selection event will be held in the fall to release a selection of home sites.

Rarity is a major player in the local upscale development community, with projects ranging from Jasper, Tenn. - west of Chattanooga - all the way to Jellico, located about 60 miles north of Knoxville.

In fact, Rarity Enclave will be about two miles from a project called Rarity Bay, and Ross said Enclave residents will have access to the Rarity Bay Country Club.

Business writer Josh Flory may be reached at               865-342-6994       .