Yeah, Nottingdale is what we have planned for this area. It's going to be a large village with industrial-revolution-style architecture (lots of wood/brick buildings). Some stuff on the todo list includes putting most of the bridge underground/on the ground, laying out streets and etc. The map photo is pretty old (we've done some work on it in the past week). I'll put up a new picture showing a general layout when I'm finished with it.
We have a number of people semi-actively working on Nottigdale, but for the most part ctc100 and I have built what you see here.
Logistics: I do intend to apply for an animal farm if that's what we're doing (even if it's only 2 sheep/2 cows/2 pigs/2 chickens at any time). I do intend to sell many lots, although I am not yet sure as to how much we'll be selling for (probably quite cheap). No affirmative decision yet on PVP but probably not.
EDIT 1/21/2012: Desicion is made - Nottingdale is a no-pvp no-stealing/griefing town. Signs to be posted on signboards at the town hall and future teleport soon.