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VOL. 111 | NO. 24 | Wednesday, February 5, 1997

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lj 10/5 cates Construction begins on Windykes second phase By LAURIE JOHNSON The Daily News Construction is underway on the second phase of Champion Hills at Windyke, a resort-style apartment complex in southeast Memphis that is being developed through a partnership between Makowsky & Ringel and Belz Enterprises. This second phase, which will consist of 88 one- and two-bedroom units, will boost the size of the apartment community, located adjacent to the Windyke Country Club at 8883 Grand Slam Drive, from 176 units to 264 units, said Jimmy Ringel, vice president of management for Makowsky & Ringel. The first phase, completed about two months ago, currently is 100 percent leased. The new phase is expected to cost $4.3 million, or about $49,600 per unit, to build, Ringel said. Champion Hills at Windykes development partnership recently filed a building permit valued at $3 million for construction purposes, according to Shelby County code enforcement records. Makowsky Construction Co. is serving as the general contractor for the project. The apartment community was designed by architect Jack Schaffer of Archeon Inc., and Reaves Sweeney & Marcom Inc. served as the engineering firm. "We hope that the first units will be ready for occupancy in early summer, and we hope to be completely finished by late fall of this year," Ringel said. Makowsky & Ringel will be the management company for the property and will begin leasing apartments in the second phase in June. Ringel said the apartment communitys proximity to the rapidly developing Nonconnah corridor should make it an attractive property for renters. "When the Nonconnah Parkway is finished, we will be situated between the Hacks Cross and Forest Hill interchanges and that will certainly be a strategic advantage for us," Ringel said. Employers locating both on and near the parkway, such as Federal Express, whose new technology center will be near the end of the parkways route in Collierville, and Thomas & Betts, whose headquarters will be located in nearby Southwind, also are expected to supply a steady stream of tenants, he added. One bedroom apartments at Champion Hills at Windyke will range in size from 715 square feet to 850 square feet. Two bedroom units will range in size from 1,015 square feet to 1,150 square feet. "These are slightly larger floor plans, about 10 to 15 percent larger, than what is primarily on the market right now," Ringel said. Rent will range from $600 to $620 per month for a one-bedroom unit and $700 to $720 per month for a two-bedroom. While these are considered luxury apartments, the developers are planning to keep the prices mid-scale and in the range of what a fairly broad group of people can afford, Ringel said. "Were mainly looking at adults age 30 to 50, with a household income of about $30,000 and up," he said. About half of the second phases apartment units will have a view of the fifth fairway of the Windyke Country Club golf course, and the apartment complex also will have its own putting green. "It kind of goes with the image of the community," Ringel said. "Although were not exactly a golf course community, we are located along a golf course, so were trying to create a resort feel to the property. It will be very peaceful and quiet, with a kind of greenbelt atmosphere." Additional amenities of the apartment complex will include a swimming pool, laundry center, exercise facility and entertainment or party room. Although access to Champion Hills at Windyke will be controlled by a security gate, each apartment also will have its own interior alarm system. The Makowsky & Ringel and Belz Enterprises partnership also is developing a similar apartment community, Champion Hills at Stonebridge, located adjacent to the Stonebridge Country Club on Highway 64 about two miles from the new Wolfchase Galleria mall. Construction on the 232 units of the apartment communitys first phase will begin as soon as weather permits, and leasing will begin in late summer or early fall. Makowsky & Ringel currently manages about 6,500 units of multifamily property and 750,000 square feet of commercial space.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 322 8,071
MORTGAGES 93 381 9,580
FORECLOSURE NOTICES 31 81 1,439
BUILDING PERMITS 236 688 17,295
BANKRUPTCIES 52 207 5,613
BUSINESS LICENSES 35 143 3,091
UTILITY CONNECTIONS 28 128 3,378
MARRIAGE LICENSES 27 120 1,808

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