NewsTalk 101.5 FM visited with Chris Alexander, vice president of retail and development for Healthy Community LLC for a question and answer session about construction of Jackson Walk Phase II on West Deaderick Street.
Question: With 10 acres to work with where West Jackson Baptist Church once stood, what does Healthy Community LLC have planned for the area?
Answer: We are preparing for our groundbreaking on the next phase of Jackson Walk. Jackson Walk began by connecting West Tennessee Healthcare’s bold approach to wellness (LiFT Wellness Center) to downtown Jackson.
We are enjoying a surge of civic pride as we watch Jackson Walk become a landmark while it revitalizes an historic area.
Jackson Walk creates a civic commons using a transformed Central Creek to link the (West Tennessee) Farmers’ Market, The Amp and the Dog Park.
The new addition to Jackson Walk is growing, so it will connect to another major asset – the University of Memphis Lambuth. This expansion will include 120 new apartments and 40 single-family homes.
We see this all together creating the Tipping Point in Jackson’s rebuilding and re-imaging of itself.
Q: Are you seeing interest from prospective clients in the area?
A: Absolutely, we have a waiting list on our Jackson Walk Apartments so we’re just trying to keep up with demand with the addition of 120 more units. Then, interest continues to build for our single family homes. We’ve sold all 25 new construction homes that ​have been built in the last three years. We’re running out of available lots from our initial phase.
We feel fortunate to have access to another 10 acres to grow our residential revitalization efforts. The home sales prices are rising each month and have become attractive to builders looking to take advantage of a hot market.
In addition, the area appeals to such a wide variety of home buyers, i.e. young professionals, families, empty-nesters, etc. There acre a multitude of amenities just steps from these homes … LiFT Wellness Center, Grubb’s Grocery, restaurants, shops, the Farmers’ Market, Amp, Dog Park, walking trails, and much more.
A growing segment of the population wants to return to neighborhood living with the lifestyle that the Jackson Walk area offers.
Q: Several homes not associated with the project on West Deaderick Street are being ​refurbished or torn down – how encouraging is this?
A: We’re very excited to see to see the removal of blighted homes and many of the older homes being renovated.
The beautiful older homes in the LANA (Lambuth Area Neighborhood Association) area are what brings so much charm and character to the neighborhood. It’s unfortunate that so many older homes that turned into rentals have deteriorated so much over the last couple of decades.
​We helped save as many as we could, but there were quite a few that were too far gone. However, most of the new homes that have been built have been of the craftsman style bungalow that blend with the historic homes in the neighborhood.
The success of Jackson Walk’s new home sales has caused many homeowners in the area to start investing again in their older homes. Before Jackson Walk, home values in the neighborhood were deteriorating and homeowners were hesitant to spend money on their homes, being that they would not get a return on their investment.
Now they see that the area is growing and there is a lot of demand for good quality homes.
Many see markets like Cooper-Young in Memphis and East Nashville where home prices in these historic neighborhoods are some of the highest in the city.
We’re at a tipping point where I believe that one of the best investments in housing is in the Jackson Walk/LANA area. Home sales prices have risen steadily over the last three years.
Q: About how many homes in the area are being refurbished?
A: I’m aware of 13 homes around the Jackson Walk area, but I’m sure there are many more. Mario and Jan Irigoyen have renovated at least three homes on West Deaderick and have done an outstanding job of maintaining the charm and character of each​ property.
They live in the first home they renovated, and they are a big part of the overall neighborhood revitalization.
There are several other LANA property owners that have been refurbishing historic homes for years. I think for some it began as a hobby, but now there is good money to be made restoring these one of a kind homes.
Q: Activity continues on Morgan Street, among others. Is the activity as strong as it was when the project first started?
​​A: Activity is snowballing with interest in the area homes. Pre-Jackson Walk, there had not been a new home built in LANA in nearly 40 years. There was a lot of skepticism if there would be a demand for new homes in the area.
We’d seen success in the downtown/midtown markets in Memphis and Nashville, but would it work it Jackson?
People fear the unknown. We built two homes the first year, and they took several months to sell. Three and-a-half-years later – we’re selling homes as fast as we can get them built.
Our first home sold for $115,000 and the most recent sale was for $260,000.
We’ve got homes for everybody in their stage in life, from the first time home buyer to empty nesters looking to age in place. The market has proven that there is high demand for housing in the area. There are plans for at least 10 more new homes to break ground this year.
Q: Is there a timeline for Healthy Community LLC to reach the University of Memphis Lambuth?
The linkage from Jackson Walk to University of Memphis – Lambuth Campus was one of our original goals when Henry Turley and Hal Crocker planned the development.
We’ve made a lot of progress in the last few years with Morgan Street and (West) Deaderick Street. I believe that we should make the connection to the south side of campus by the end of 2018. The new phase of Jackson Walk will quicken our pace to make the connection.
We expect the first apartment building in Phase II to be ready for occupancy in October of this year.
The other three apartment buildings are scheduled to be ready by end of Spring 2018.
In addition, we plan for at least three new homes on West Deaderick Street to be completed by early 2018.​
(PHOTO: Chris Alexander (left) with Ronnie Smith, Patton & Taylor Construction Company and superintendent for project of Jackson Walk Phase II, and Hal Crocker co-developer, Jackson Walk Phase I & II. Photo was taken at the front of where West Jackson Baptist Church once stood.)
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