|
|
|
|
|
ICSC Report, 2006
New Mixed-Use Development Near Memphis Focuses on Neighborhood Appeal and natural Amenities Imagine a community where houses are located within easy walking distance of office and retail space, near relaxing lakes and streams, and a preserved forest area. The Lake Forest development near Memphis, Tennessee, will make this a reality when construction starts next year on a walkable, traditional neighborhood in Lakeland, Tennessee. Located on Canada Road near I-40, the 125-acre Lake Forest development will include approximately 500 housing units – a mix of single-family homes, multi-family homes, zero lot-line houses, townhouses and lofts. In addition, commercial space, office space, a small hotel and a retail center have been proposed. The 200,000-square-foot retail center would be able to accommodate a neighborhood grocery store and other convenient services and products. Retail opportunities will be available for both national and local retailers, banking centers, medical offices and other commercial entities. The development’s friendly neighborhood design will make it an ideal location for restaurants to serve as gathering points for families and friends. Lake Forest’s development plan will make good use of the area’s natural attractions, including lakes, streams, other water features and an extensive forested area. A series of walking and bicycle trails will wind through the neighborhood and lake system, providing tranquil retreats from the hustle and bustle of daily life. Numerous trees will shade the streets, giving them the traditional feel of years gone by. The site was carefully selected for this new development. This area is in one of the fastest-growing sectors of West Tennessee, with 82,000 people living within five miles of the development. The area along Canada Road is undergoing a series of demographic shifts as more people take advantage of its convenient acess to I-40 as they move to Lakeland. The majority of the new houses in the vicinity are high-end homes, while the average household income within five miles is $75,000. To keep up with traffic demands, Canada Road is being improved and widened to a four-lane boulevard. Lake Forest’s combination of commerce and quality of life offers more residential, retail and commercial opportunities in an area undergoing intense growth. This development will give people the small-town neighborhood feeling they are looking for by moving out of Memphis, but will include the amenities of the city. For leasing information about Lake Forest, please call (901) 260-7300. | ICSC, 2006 | Page 1 |Page 2 | |