Major Development In Cordova: 296 New Apartments To Emerge Near Colonial Country Club
Legacy at Colonial Breaks Ground on Huge Residential Complex
As Spring hits, new developments are already underway in Cordova. Continental Properties, on March 11, announced the groundbreaking of the high-in-demand Springs at Colonial project. This upcoming venture promises 296 apartment homes, beautifully spread across ten gated residential buildings in the Legacy at Colonial development area.
The Springs at Colonial residential complex aims to provide a variety of options to its potential residents, with one-, two-, and three-bedroom apartments paired with attached garage options. The development is nestled within the spacious 175-acre Legacy at Colonial mixed-use project and is expected to start pre-leasing in fall with a tentative completion date slated for early 2025.
Legacy at Colonial Development: A Game-Changing Project
In a ceremony held in December 2022, former Memphis Mayor Jim Strickland and other influential figures marked the inception of the massive $400 million Legacy at Colonial development project. This ambitious venture is conveniently located adjacent to the Colonial Country Club and was initially referred to as the Legacy at Countrywood.
The mixed-use development project, overseen by the developer ‘CCClub Holdings LLC’, is chalked out to contain 305 senior living residences, 541 single-family homes, 301 multifamily units, a 130-room hotel, and a sweeping 40,000 square feet of retail space. Besides these structures, the project also comprises over 37 acres of green spaces and parks, offering residents an opportunity to relax in natural surroundings.
Continental Properties, under the guidance of their public relations manager Gazelle deWerff, is responsible for handling leasing, development and property management of the Legacy at Colonial’s multifamily component. Meanwhile, Montgomery Martin Contractors, a Memphis-based firm, has been assigned as the general contractor for Springs at Colonial.
An Economic Boost: The Role of EDGE
In an effort to promote development and boost the local economy, the Economic Development Growth Engine for Memphis and Shelby County (EDGE) approved a hefty $23 million tax increment financing (TIF) deal in July 2022 to aid the infrastructure cost of the project. The rest of the funding for the project is sourced privately.
Church Health Gears Up To Expand its Youth Facility
In other development news, Church Health, a faith-based healthcare nonprofit, announced plans to expand its youth facility, The Well. A groundbreaking ceremony is planned for March 20 for a new playground addition at The Well. The new outdoor play area will cater to the recreational needs of Church Health patients’ children and YMCA members.
Dermon Building All Set For A Global Hotel Brand
In another significant development, the Land Use Control Board approved a special use permit on March 14 to open up hotel possibilities in the Central Business District at 46 B.B. King Blvd. The historical, 10-story building is scheduled to be transformed into a 159-room high-end Holiday Inn Express. An ambitious inception is set for 2025.
Underdeveloped Sites Turning Into Event Spaces
The Crosstown Concourse has secured approval for utilizing a property at the corner of Autumn Avenue and North Claybrook Street for future development as an indoor event venue. Todd Richardson, Crosstown Concourse President and CEO, confirmed the news and mentioned that at this point, possibilities are being dreamed about the future of the site.
