Mane Street Memphis: Almost 300 new apartments are coming to Legacy at Colonial in Cordova

Another Tuesday and another Mane Street Memphis fresh off the presses.

Last Mane Street, I switched up the routine a bit and did an overview of the Mem2Nash event. The collaborative event with local Memphis officials and state representatives, sometimes flies under the radar and I wanted to share a more behind-the-scenes look for y'all at how some of Memphis and Nashville partnerships take root.

This week I'm going back to the basics with an overview of happenings for several notable projects throughout Downtown and Shelby County.

Legacy at Colonial breaks ground on 296-unit residential complex

A rendering of the Springs at Colonial. The 296-unit apartment complex is located within the $400 million Legacy at Colonial development in Cordova.
A rendering of the Springs at Colonial. The 296-unit apartment complex is located within the $400 million Legacy at Colonial development in Cordova.

On March 11, Continental Properties announced the groundbreaking for Springs at Colonial, a 296-unit apartment home complex located in the Legacy at Colonial development in Cordova.

Springs at Colonial is a gated 10-building apartment complex. The residential neighborhood will include one-, two- and three-bedroom apartments with attached garage options, and will be located within the 175-acre, mixed-use Legacy at Colonial development. Pre-leasing is expected to begin in the fall with a completion date by early 2025, according to the news release.

In December 2022, then-Memphis Mayor Jim Strickland and other elected officials held a ceremonial groundbreaking for the $400 million Legacy at Colonial development, which is located adjacent to Colonial Country Club. The project was previously referred to as the Legacy at Countrywood.

CCClub Holdings LLC is the developer for the mixed-use development. In total, the Legacy at Colonial project will include 305 senior living residences, 541 single-family homes, 301 multifamily units, a 130-room hotel and 40,000 square feet of retail space. In addition to the residential and retail components, the site includes more than 37 acres of parks and open space.

Continental Properties is handling leasing, development and property management for Legacy at Colonial's multifamily component, Continental Properties pubic relations manager Gazelle deWerff said. Memphis-based Montgomery Martin Contractors is the general contractor for Springs at Colonial.

In July 2022, the Economic Development Growth Engine for Memphis and Shelby County (EDGE) approved an eight-year, $23 million tax increment financing (TIF) to help cover infrastructure cost for the project. The remainder of the project is privately funded.

Jim Russell, who was a Colonial Country Club member since 1974, is the managing partner of CCClub Holdings LLC. In November 2013, CCClub Holdings purchased the property site for $2 million, according to the Shelby County Register of Deeds. Russell purchased the Colonial Country Club that same year.

Legacy at Colonial is located at 2736 Countrywood Parkway.

Church Health expanding youth facility

Faith-based healthcare nonprofit Church Health is expanding its youth facility, The Well.

It will hold a ceremonial groundbreaking on March 20 for a new playground addition at The Well. The new outdoor playscape will be available for children of Church Health patients and YMCA members, according to a news release.

The Well is located at the Church Health clinic inside Crosstown Concourse at 1350 Concourse Ave.

Dermon Building approved for hotel use

A rendering of the historic Dermon Building in Downtown Memphis after being converted into a 159-room Holiday Inn Express
A rendering of the historic Dermon Building in Downtown Memphis after being converted into a 159-room Holiday Inn Express

On March 14, the Land Use Control Board approved a special use permit to allow a hotel in the Central Business District at 46 B.B. King Blvd. The board's approval was part of its consent agenda.

On Feb. 7, the Design Review Board, an affiliate board of the Downtown Memphis Commission (DMC), approved design plans for the historic, 10-story building that would convert it to a 159-room Holiday Inn Express.

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In September 2023, the Center City Revenue Finance Corp., an affiliate board of the DMC, approved a 10-year payment-in-lieu-of-taxes (PILOT) for the project.

The site owners and developers are Dermon Building OZ, which consists of Nick Patel and Sam Patel. Dermon Building OZ purchased the property at 44-46 B.B. King Blvd. in September 2022 for $1.5 million. The entity also acquired an adjacent parking lot along Court Avenue for $1.75 million, according to the Shelby County Register of Deeds.

Memphis-based cnct design is the architect for the project. The Dermon Building dates back to 1925 and is listed on the National Register of Historic Places. A tentative opening date for the Holiday Inn Express is set for 2025.

Krosstown Kleaners mixed-use project moves forward

The historic Krosstown Kleaners building at 1400 Madison Ave. is moving ahead with construction. On March 15, Kinsley Selina Thompson of Krosstown Venue LLC filed a commercial alteration permit with the Memphis and Shelby County Division of Planning and Development for renovations at the site.

According to the permit filed, the work is for converting the former dry cleaner into retail on the ground floor and residential on the upper floors. The estimated cost for the project is $975,000. The project is referred to as Krosstown Venue in the permit application.

In December 2023, the Design Review Board, an affiliate board of the DMC, approved site design plans for the Madison Avenue project. The commercial alteration permit filed is aligned with the board's approval for retail on the ground floor and residential on the upper floors. In November 2021, the Center City Development Board, an affiliate board of the DMC, approved a $200,000 development loan for the project.

The Krosstown Kleaners building dates back to 1910 and was converted to a dry cleaner in 1944. Thompson purchased the property in September 2021 for $300,000, according to the Shelby County Register of Deeds.

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Crosstown Concourse secures future event space

On March 14, the Land Use Control Board approved a conditional use permit to allow an indoor event venue at corner of Autumn Avenue and North Claybrook Street. The approval was part of the board's consent agenda. The property site includes three parcels and is part of the Crosstown Planned Development subdivision, according to the Shelby County Register of Deeds.

Crosstown Concourse President and CEO Todd Richardson said no definitive plans are in place for the site yet, and the permit is a preemptive approval to position for the site for future development.

The 1.04-acre parking lot is located at 0 Claybrook St. The lot was originally intended for use as overflow parking, however, changes with hybrid work schedules have diminished some of need for additional parking, Richardson said.

"At this point, we are dreaming about future possibilities," he said in an email. "We're simply exchanging the commercial parking use for an indoor event space that gives us many more options in the future when we're ready.  It's also helpful that we have a huge parking garage and additional surface parking lots right across the street that are also underutilized."

Neil Strebig is a journalist with The Commercial Appeal. He can be reached at neil.strebig@commercialappeal.com, 901-426-0679 or via X: @neilStrebig.

This article originally appeared on Memphis Commercial Appeal: Cordova development will add 296 apartments near Colonial Country Club

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