Exclusive: Developers of Parkside project buy 55-acre site
From Memphis Business Journal
Developers behind the proposed $200 million mixed-use project near Shelby Farms Park are a step closer to construction.
The Parkside at Shelby Farms development group closed on its purchase of a roughly 55-acre tract of land on Mullins Station at Whitten Road for $4 million.
“This will be a very positive impact on the area,” said Bob Turner, owner of Southern Properties Real Estate and a partner in the Parkside development group. “The financial impact of the development alone could be in the $175 million to $200 million range.”
The project, which has previously drawn concerns about infrastructure and criticism from surrounding neighbors, calls for the construction of Class A apartments, restaurants, retail, office space and senior living. The goal — like most mixed-use developments — is to create a live, work, play environment.
The developers now plan to work on the final site plan design as well engineering and traffic studies. The project will go before the Land Use Control Board and the Memphis City Council in the next few months. The developers said they intend to work with the Shelby Farms Park Conservancy, government officials for both the city and Shelby County and nearby residents.
“If we stay on schedule, we could be breaking ground in 12 months or less,” Turner said.
The group also plans to complete a Tax Incremental Financing (TIF) District application to aid public road improvements around the site.
In addition to the land purchase announcement, the developers also released its list of project partners:
Robert Cochran (Allen & Hoshall Engineering)
Bob Dalhoff and Dean Thomas (Dalhoff Thomas Design Studio)
Scott Fleming (Fleming and Associates)
Brenda Solomito-Basar (Solomito Land Planning)
Byron Harris and Joe Wiseman (Byron Harris Surveying)
James Collins and John Perry (Kimley Horn Traffic Engineering)
Dexter Muller (Pinnacle Planning Advisors)
Martin Edwards (Edwards Management)
Shawn Massey (The Shopping Center Group)
Rob Vogt (Vogt Insights)