Developers finalized plans to build a $58 million shopping and housing center next to the University of Memphis last week. Construction is set to begin in the empty lot where the Highland Church of Christ once stood.
This new project comes when the University enrollment is at its highest and the $53 million 780-bedroom student living center, Centennial Place, is almost complete.
The new project, named the Highland Row, will be located on the corner of Highland Street and Midland Avenue and will feature a residential area as well as shops and parking.
Two separate companies collaborated to build the proposed project.
The Indiana based Milhaus Development LLC, which focuses on mixed-use and multi-family environment, will lead the development of the residential being built. It includes about 354 apartment homes and 35 town homes. There will also be a 511 space-parking garage built into the development.
Poag Shopping Centers LLC, Memphis based, will consider their developments as more of “Lifestyle Centers” as opposed to just shopping centers.
Poag will be in charge of the commercial aspect of Highland Row, which will include 32,000 square feet of retail shops.
Greg Martin is one of the founders of Milhaus Development LLC and works as the Vice President of Development for the company. He feels Highland Row will bring a lot to the table for the University area of the city.
“Highland Row brings significant private investment opportunities to The University Area, which has not seen any significant private investment opportunities in the last 15 years,” Martin said. “It will also provide upscale living areas for people wanting to live in the Midtown area, while providing for retailers in the area as well.”
Martin also mentions that construction should not affect commuter traffic in an already congested area of the city.
“During construction we should not impact traffic at all,” Martin said. “Long term it is a mixed use concept with people living and shopping within the same neighborhood, we are tying to create a pedestrian environment where people have the opportunity to walk and use other modes of transportation.”
Although Highland Row will be conveniently located across the street from campus, Memphians will have the opportunity to rent out the apartment and townhomes as well as students.
“I think it is going to be a mix of students and families living on Highland Row,” Martin said. “Students will not be the target renters but they will be a component of renters for that space, but we will not have rooms locked off for student renters.”
Josh Poag is the President and CEO of Poag Shopping Centers LLC and has held that position since 2008.
Poag in a Memphis native and feels that Highland Row will help enrich the surrounding areas.
“In 2004 (then) University President Shirley Raines reached out to a lot of local developers to try and embrace the University of Memphis,” Poag said. “She wanted help from the development community to try and improve the area.”
Poag also mentions how the development could potentially help to draw students to the university.
“This is something we think will improve the area,” Poag said. “This will give a place for students to go and even take their parents.”
Poag Shopping Centers LL and Milhaus Development LLC are hoping for a completion towards the end of the summer in 2016.
