1

80 ACRES - EVERGREEN PD Lakeland, TN

LEA HEILIG 5865 Ridgeway Center Parkway, Ste. 300 | Memphis, TN 38120

T. 901.767.1998 | Direct 901.842.5322

www.WoodyardRealty.com | Lea@WoodyardRealty.com

Prime 80 acre site

$2,000,000 or $25,000/ac

Fully entitled includes zoning and approvals

Zoned PD [Planned Development] with 140 lots [apprx. 75‘ x 165’]

Utilities/sewer to site

Rare opportunity for immediate lot development

Within 1 mile from future Middle School opening Fall 2018

DEVELOPMENT SITE FOR SALE

Offering Highlights

In the heart of the City of Lakeland in northeast Memphis Metro area — a growing suburban community with a sce-

nic rural atmosphere and highly rated schools

Proximity to metropolitan amenities, incl. retail corridor along Germantown Pkwy, Wolfchase Galleria, the largest

shopping mall in the MSA, etc

Abuts subdivision with high-end homes

Excellent topography; well-designed with green buffers, detention pond

$2,000,000 80.0 $25,000 143 $13,986 1.75 Price Acres Price/Acre # of Lots Price/Lot Density/Acre

2

Location Maps 80 AC Evergreen PD - Development Site

Lakeland Commons Development*

*See page 7 for details on the Lakeland Commons Development

3

80 AC Evergreen PD - Development Site

Location

Lakeland’s Expanding School System drives demand for New Homes

The 80AC Evergreen site is less than a mile from Lakeland’s future Middle School, which is expected to open for the 2018-2019 school year. The Subject site is ideally located to meet the demand for new residential development typically spurred by the construction of a school.

High-performing schools play a major role in a city’s ability to recruit good citizens.

Lakeland’s Elementary School is a one of the county’s best-performing schools, rated 10 out of 10 in statewide performance and test score ratings . To remain competitive and support Lakeland as a destination of choice for existing and future residents, city leaders passed funding resolutions for the construction of a new Middle School.

The future Middle School is to be built on 94 acres of land located NE of Highway 70 and Canada Road, which includes room for the even-tual construction of a high school.

Subject Site

Site of future Middle (& High) School

Lakeland Commons Development

4

80 AC Evergreen PD - Development Site

Location

City of Lakeland

Named after Garner Lake, the largest man-made lake in Shelby County, the City of Lakeland is a residential community in the northeast submarket of the Memphis Metro area. The centerpiece of a former (1976) recreation area & amusement park, the lake soon became home to luxury home subdivisions with lakefront properties.

Lakeland's measured development and natural terrain fosters a sense of scenic country living. Quality of life offerings include a number of lakes, ponds, streams, parks and other recreational opportunities, most notably the 65-acre IH Managerial Park with open space, walking/hiking trails and a lake for fishing.

 

Lakeland’s location, bisected by I-40 and Hwy 385 (future I-269, a local bypass loop for I-69, the cross-country route that will extend from Canada to Mexico and cut through Memphis) puts the city in the path of growth and development—as evidenced by over 81% in population growth between 2000 and 2010.  

 

Lakeland was ranked as one of the Top 10 cities for homeownership in Tennessee (Nerd Wallet, 2014), a Top 10 most affordable city in Tennessee (Movoto, 2014) and #6 on the Top 10 list for BEST cities in Tennessee (Movoto, 2013).

5

Demographics

80 AC Evergreen PD - Development Site

6

Site Scheme 80 AC Evergreen PD - Development Site

7

Lakeland Commons Redevelopment 80 AC Evergreen PD - Development Site

THE LAKE DISTRICT Additionally, A California-based developer has unveiled a mixed-use plan for the vacant outlet mall site in the SE quadrant of Interstate 40 and Canada Road interchange. The estimated $120 million plan includes rental units, major commercial on the perimeter and smaller, boutique shops near the middle, lakeside restaurants, and services such as a gym, a day care center, an arts center and paddle boats on a lake are spread through the rest of the pro-ject. (The Commercial Appeal, April 6, 2016)