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VOL. 118 | NO. 193 | Monday, October 25, 2004

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Two Upscale Residential Projects Coming to Fayette

Upscale Homes Planned for Fayette

New residential concept offers buyers unique amenity


The Daily News

A home with a lakefront view isnt out of the ordinary. But when that view comes with water-skiers zooming by on a private lake created especially for them, its a bit unusual.

That idea is the inspiration behind the Lake Pointe Subdivision, a Fayette County neighborhood situated beside two 12-acre recreational lakes designed specifically for water-skiing. Located on Jenkins Road, 3 miles east of Raleigh-LaGrange Road and Tennessee Highway 196, Lake Pointe offers 20 estate-size lots.

Crews Realty is developing the neighborhood, along with an upscale, 33-lot subdivision in Piperton known as Windbrook Estates.

Economic sense. Jason Crews, owner/agent of Crews Realty, said he is developing residential properties in Fayette County because it makes economic sense, especially for the Lake Pointe project.

The land is cheaper, and to build lakes, it costs a whole lot to dig them, he said. We thought it was close to Collierville, and we thought more people would be moving out to Fayette County as they get older or they want cheaper taxes.

Individual lots in Lake Pointe range in size from 1.5 acres to 3 acres, and property owners can access the 2,350-foot twin lakes for skiing and fishing. The lakes, designed for wind protection to keep the waters calm, are 6 feet to 8 feet deep and 200 feet wide.

Lots in the neighborhood are priced between $60,000 and $72,000. Among the 14 lots sold so far, four homes have been built. Homes in the subdivision must be a minimum of 2,500 square feet. More than 40 acres of common space is available for use by the homeowners, including the 26 acres of water.

Developing a trend. Skiing communities are uncommon in the Memphis area, though Collierville offers a small ski-lake neighborhood.

Crews developed his first skiing community in Olive Branch, Miss., just south of Goodman Road on Pleasant Hill Road. Taking note of skiing communities throughout the country in states including Florida, California, Louisiana and Mississippi, Crews decided to build a private family lake in 1989.

He subdivided that property in 1995, ultimately forming a 60-lot neighborhood now known as Summers Place. The property features 10 lakefront lots.

He then moved his efforts to Collierville, where Crews now has his own private lake. He plans to build another skiing community in south Collierville in the next year that will contain five to six lots.

The neighborhood lakes arent just used by residents they also host ski tournaments. Skiers from surrounding states, all members of the American Water Ski Association, have participated.

Its a good family atmosphere, Crews said. You can get you and your kids involved in a sport that the whole family can enjoy.

Upscale project. Crews second Fayette County development, Windbrook Estates, is located 2 miles east of Collierville on the north side of state Highway 57 in Piperton. The neighborhood offers estate-size lots and property containing mature trees. It ultimately will contain 56 homes spread across 135 acres, developed in two phases.

The first phase features 33 lots ranging in size from one acre to five acres. Homes in the development must be at least 3,000 square feet in size.

We have strict covenants and architectural control, Crews said. Its a very nice-looking subdivision with mature trees. The aesthetics are nice.

Lot prices range from $70,000 to $150,000. Crews said homes in the neighborhood will probably range in price from $350,000 to $500,000. So far, four homes have been constructed in the subdivision. Crews expects that number to grow soon.

I think well see a bunch of houses going up by the end of the year, he said, adding that 18 lots have been sold.

Future needs. The upscale development is welcome in Piperton, which hopes to attract a mixed price range of homes as it grows.

For whatever reason, were seeing some pretty high-dollar homes being built out here, said Piperton Mayor John Huffman. You certainly need a mix of housing in a community.

The ultimate goal for the community is to offer a range of home prices.

You cant build a community around all large, high-dollar housing, Huffman said. If you do that, then the children of the people who build those high-dollar houses dont have any entry-level houses to move into.

As we grow, were going to have a need for mixed housing.

Huffman said the assessed value of homes in Piperton ranks near the top in Fayette County.

Development hurdle. Many of those homes are being constructed on large lots, and theres a reason for that.

Not having sewer is driving that, because lots have to be a little bit bigger to have septic, Huffman said. Youre seeing price points that result in higher-dollar houses. Its harder to do smaller lot sizes on septic. Its possible, but very difficult. And that is one of the reasons were interested in sewer, so that we can accommodate a more flexible mix of housing styles as we move forward.


PROPERTY SALES 36 154 6,546
MORTGAGES 34 94 4,129
BUILDING PERMITS 201 554 15,915
BANKRUPTCIES 43 126 3,396