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VOL. 132 | NO. 224 | Friday, November 10, 2017

Shelby Farms Draws New 71-Acre, $142M Development

By Patrick Lantrip

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In a joint venture with Charles Crews of Crews Investment Holdings, Nashville-based Elmington Capital Group has submitted plans to the Office of Planning and Development for a 71-acre senior housing, apartment and single-family development next to Shelby Farms Park.

Dubbed Dwell at Shelby Farms, the new $142 million development will be located on the north side of Raleigh-LaGrange Road near the intersections of Trinity and Fischer Steel roads.

“We have created a conceptual development plan that we believe will ultimately transform an undeveloped property into a high quality, mixed-use neighborhood,” Henry Minor of Dalhoff Thomas Design Studio said in a letter to OPD planning director Josh Whitehead. “The development is striving to build a neighborhood with a strong sense of place and close ties to the neighboring Shelby Farms Park and Shelby County Greenline, which will be mutually beneficial to supporting these recreational amenities and attracting future residents.”

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According to Elmington Capital, the plans call for 979 residential units that will be spread across three- and four-story multifamily buildings, townhouses, single-family detached homes and senior living units.

The developers said plans also call for a new public road named Dwell Parkway, which will begin where Fischer Steel Road currently ends and create a connection from Germantown Parkway to Raleigh-LaGrange Road. There will be a 10-foot-wide public urban greenway that will connect the greenline to Shelby Farms Park.

Since the property is currently zoned heavy industrial, Elmington is seeking approval from the Land Use Control Board to rezone the property to primarily residential.

“We, along with our partner Charles Crews, are excited about the potential for this property and are striving to build a neighborhood that will only improve the character of the surrounding community,” Elmington president Ben Brewer said in a release. “The property is uniquely situated with direct access to both the greenline and Shelby Farms Park. We realize the viability of our site is directly tied to these natural amenities, and we are designing our project to provide direct access to these for all of our residents.”

While only residential plans were submitted to the OPD, Minor indicated in his letter of intent that other commercial uses have not been ruled out.

“Additionally, design provisions in the architecture have been made to allow for retail and office uses on the ground floor of several multifamily buildings,” Minor wrote. “The timing for introducing those commercial uses will be market driven, but the developer’s intent is to build, own and maintain a mixed-use community that will complement the existing neighborhood and provide a place where residents have the opportunity to live, work and play.”

In addition to Elmington and Crews, the development team consists of urban planner and landscape architects Dalhoff Thomas Design Studio, civil and traffic engineers Kimley-Horn, and architects Shapiro & Co.

The proposed project will be located roughly two miles from the Parkside at Shelby Farms, an unrelated 50-plus-acre, $200 million development that will include a 130-room hotel, Class A apartments, townhouses, senior living, offices and retail tenants across 18 mid-rise buildings and at least three towers.

Plans for the Parkside at Shelby Farms project were approved by the Land Use Control Board in August.

Though based in Nashville, Elmington owns 862 multifamily units and manages 1,530 units in Memphis through its property management division.

PROPERTY SALES 90 378 5,955
MORTGAGES 91 378 6,649
BUILDING PERMITS 161 652 13,313
BANKRUPTCIES 0 1,045 4,093