VOL. 118 | NO. 193 | Monday, October 25, 2004
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
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
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
We have strict covenants and architectural control, Crews
said. Its a very nice-looking subdivision with mature trees. The aesthetics are
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
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
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.