Hillwood Investment Moving Ahead with $165M Legacy Park; Tennessee Receives $28M in CDBG
- Oct 03, 2014
By Liviu Oltean, Associate Editor
Hillwood Investment Properties is moving forward with plans to develop Legacy Park, a $165 million, 265-acre distribution and business complex on the south side of Goodman Road, according to the Memphis Daily News.
The company is expected to close next week on a tract of land that will enable Hillwood to develop almost 4.3 million square feet of industrial space and an office campus that will span across 50 acres. The park could generate between 850 and 3,000 new jobs, according to the same source.
As of late, Hillwood has been quite active in the region of Memphis. In early September, the firm opened a regional office in Memphis and drafted Kurt Nelson as senior vice president to oversee the expansion in the area. Nelson was previously with IDI Gazeley, where he led the office for almost 19 years.
“We are very pleased to welcome an accomplished real estate leader like Kurt to the Hillwood team,” said Tal Hicks, president of Hillwood Investment Properties. “Kurt brings invaluable expertise and advanced knowledge of the Memphis market that is well suited for Hillwood’s long-term commitment to the region’s growth and development.”
In other regional news, Tennessee Gov. Bill Haslam and Economic and Community Development Commissioner Bill Hagerty approved more than $28 million in Community Development Block Grants (CDBG). The grants will assist Tennessee with infrastructure, health and safety projects and downtown improvements.
“Community Development Block Grants play an important role in helping communities across Tennessee prepare for future economic development opportunities and continued growth,” Haslam said. “Working with our communities in making these improvements helps bring us one step closer toward our goal to making Tennessee the No.1 location in the Southeast for high quality jobs.”