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VOL. 118 | NO. 147 | Tuesday, August 17, 2004

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Rusco Plans Subdivision Near Houston Levee Road

Rusco Plans Subdivision Near Houston Levee Road

24.78 acres on

Houston Levee Road

Cost: $2.7 million

Borrower: Rusco Co.

Lender: Renasant Bank

Trustee: Michael J. McCarver

Property: 24.78 acres near Houston Levee Road near property belonging to Kevin Hyneman Cos. Inc.

According to Donnie Culver, development operations manager for Rusco Co., the project has already been approved by the Memphis and Shelby County Office of Planning and Development.

Its a single-family residential development, and its on a 24.78-acre parcel. There are 103 lots planned for it, Culver said. The project is essentially a continuation of what were already doing in that area. Its the same thing we did at Carlton Ridge off of Macon Road just a continuation of that type of product, which is a single-family home with a two-car garage.

Culver said Prime Development is designing the project for Rusco, and plans are already being carried out for the area.

Im clearing it now, and its currently under construction, he said. Well probably be finished by the end of the year, by Christmastime or maybe a little after.

 

4200 Trenton

Bartlett, TN 38135

Cost: $16.6 million

Buyer: Belvedere Apartments Inc.

Seller: Quail Apartments LP

Property: Quail Ridge Apartments at 4200 Trenton.

 

4200 Trenton

Bartlett, TN 38135

Cost: $15.3 million

Borrower: Belvedere Apartments Inc.

Lender: Trustmark National Bank

Trustee: J. William Pierce Jr.

Property: Quail Ridge Apartments at 4200 Trenton.

 

Hickory Ridge Commons

Shopping Center

Cost: $4 million

Borrower: Safeway Plaza Inc.

Lender: Union Planters Bank NA

Trustee: David A. Ives

Property: Hickory Ridge Commons near Ridgeway and Winchester roads.

 

Nine lots in

Estanaula Trails

Cost: $3.1 million

Borrower: John Worley Jr. Builder Inc.

Lender: Union Planters Bank NA

Trustee: David A. Ives

Property: Nine lots in Estanaula Trails, Hearthstone Section A.

 

Eight lots in

Estanaula Trails

Cost: $2.8 million

Borrower: John Worley Jr. Builder Inc.

Lender: BancorpSouth Bank

Trustee: Larry A. Butler

Property: Eight lots in phase six of Estanaula Trails, Hearthstone Section A.

 

7.9 acres near

Ellis and Appling

Cost: $1.6 million

Borrower: Faith Cumberland Presbyterian Church

Lender: First Citizens National Bank

Trustee: John S. Bomar

Property: 7.9 acres near Ellis and Appling roads in Bartlett.

 

1940 Poplar Ave.

Collierville, TN 38017

Cost: $1.6 million

Buyer: O&W Properties LLC

Seller: MSJ Investments LLC

Property: 2.587 acres at 1940 Poplar Ave. near Bailey Station Road.

 

11248 Raleigh Lagrange

Memphis, TN 38134

Cost: $1 million

Buyer: Boyle Investment Co.

Seller: Karrene P. Snell, Ronnye Kay Snell Bridges, Ralph Edwin Snell and Ronald Ted Snell

Property: 39.87 acres at 11248 Raleigh Lagrange Road.

 

Properties near Union

and Airline roads

Cost: $1 million

Borrower: Memphis Convention and Visitors Bureau

Lender: Regions Bank

Trustee: Richard G. Rhodes

Property: Property at 47 Union Ave., along with 2.01 acres near Airline Road and Interstate 40.

 

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 90 90 890
MORTGAGES 131 131 1,083
FORECLOSURE NOTICES 24 51 146
BUILDING PERMITS 187 319 1,524
BANKRUPTCIES 38 85 576
BUSINESS LICENSES 0 74 240
UTILITY CONNECTIONS 27 28 365
MARRIAGE LICENSES 0 0 82

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