Mid-South business headlines: Developers plan for apartment complex in Shelby Co.
SHELBY COUNTY, Tenn. (WMC) - Despite the pandemic, some local developers have hit on a sweet spot for an apartment development in unincorporated Shelby County.
Memphis Business Journal has a feature article on a complex planned for just south of Miller Creek apartments set to open next summer or fall.
Meagan Nichols, managing editor for MBJ, says the location isn’t the only thing that made the 20 acres so attractive to developers.
“In addition to the location of being close to Germantown, Collierville, 385 -- it’s also one of the few parcels of land out there that has sewer access already available which you might remember the City of Memphis, they’re not adding any new sewer lines to place in unincorporated Shelby County,” said Nichols.
According to Nichols, there will be nearly 400 units in the complex.
Plans call for a top of the line Club House and a Business Center for stay at home workers.
Nichols says she believes business centers will be something more apartment complexes begin to consider in the era of COVID-19.
Co-developers Kevin Hyneman and Keith and David Grant have successfully brought to life Meridian Park in Collierville and Hall Creek in Arlington. One might think this is a tricky time to take on a major project in the midst of a pandemic with all the economic fallout but Nichols believes this could be a great investment.
“They’re not new to this industry so I think their instincts are probably spot on with this,” said Nichols. “And you think about uncertain economic times apartments are attractive for people rather than buying homes, so this could be a good long-term investment for them. Certainly, a nice change of pace for us as well to be talking about a new development right now.”
You can find this story and more online at MemphisBusinessJournal.com.
Copyright 2020 WMC. All rights reserved.