December 17, 2015
Southwind Land to be Developed
By Jerome Obermark
– The Commercial Appeal –
Boyle Investment Co. has agreed to co-develop the remaining 78 acres of residential land in Southwind, an up-sale mixed-use community in Southeast Shelby County.
Boyle’s co-developer will be Southwind L.P., a subsidiary of Fasseck Venture Corp., an Atlanta-based firm.
Fasseck owns all undeveloped residential and commercial land in Southwind, said Lynne C. Kaiser, vice president of Fasseck. Towermarc Corp. owns about 116 acres zoned for offices.
Southwind encompasses about 800 acres in the Memphis annexation reserve area of Shelby County east of Hacks Cross Road and north of Winchester Road. The centerpiece is the Tournament Players Club and golf course, home of the PGA Tour’s annual Federal Express St. Jude Classic.
Under the new agreement, Boyle will manage development, construction and administration and sales of homesites to builders, said J. A. Hayden III, vice president of Boyle Investment Co. Southwind L.P. will handle marketing and sales of lots to the general public, Kaiser said.
The Southwind-Boyle joint venture will begin with The Gardens of Southwind and GolfWalk – two new communities on 55 acres.
The Gardens of Southwind will feature architecturally controlled home sites with views of the 18th fairway. The initial phase will have 39 lots priced from about $75,000 to $150,000, Hayden said.
GolfWalk will have 11 half-acre lots priced from about $85,000 to $200,000 near the 16th green, Hayden said.
In October, Fasseck entered an agreement with developer Ray Harvey for a self-contained garden homes community called Winderly Place in Southwind. Construction has started on some homes there.