$200M Mixed-Use Retirement Development Planned for Munford
- May 14, 2012
A mile out from Munford in Tipton County, there are 370 acres of farmland poised to be developed into The Village at Green Meadows, a master-planned community. Green Meadows Development Corp. is planning a $200 million mixed-use development consisting of a 55-and-over retirement community and a commercial district.
The retirement community will consist of 695 single-family homes at all price points. The southern part of the site will be developed into entry-level homes, which, according to the community’s website, should not be regarded as cheap—as they will present generous natural buffer zones, water features, green areas and walking trails.
The community’s northern area will feature mid-level and luxury homes. Here, homes and lots will be larger than in the entry-level south—and so will the green buffer zone. Water features and walking trails will be consistent with other areas of the community.
The 17-acre commercial district will have multiple uses. These include retail businesses, restaurants, buildings targeting professionals and Munford municipal buildings. 30 percent of the development’s surface will be preserved as natural green space featuring a Green Belt walking trail system. Ground is slated to be broken soon.
In other news, The Memphis Business Journal reports that an affiliate of New York-based DRA Advisors and Memphis-based Poag & McEwen Lifestyle Centers has purchased an open-air lifestyle center called The Avenue at Collierville.
The 712,000-square-foot complex, formerly known as The Avenue Carriage Crossing, was developed in 2005 by Cousins Properties Inc. and Jim Wilson & Associates. Located at Houston Levee and Bill Morris Parkway, The Avenue is anchored by Macy’s, Dillard’s, Barnes & Nobles and Bed Bath & Beyond.
Poag & McEwen is the leading developer of lifestyle centers. Its portfolio consists of ten of these centers—either completed, under construction or in the pre-construction development stages.
Photo credit: The Avenue at Colierville’s Facebook page