A large segment of land north of Highway 385 and west of Houston Levee Road is slated to be rezoned to include high density residential properties and medical professional offices.
The town’s Planning Commission will vote Thursday night to rezone 252.58 acres of mix-zoned forest, agricultural and residential property into 47.3 acres of ‘high density residential,’ 55 acres of ‘medical professional office,’ 67 acres of ‘shopping center commercial,’ 6.6 acres to ‘multi-family residential’ and 4.1 acres to ‘townhouse residential.’
The property is currently undeveloped and has previously been farmed to cultivate row crops.
If the ordinance is passed, a portion of the property could include the Park at Houston Levee planned division.
The project applicant, Kevin Vaughan of Township Development Services, said that the property has recently “emerged as one of the most attractive remaining locations in our town for a suburban commercial place type, based upon feedback we have received from national retailers that have expressed interest in the location.”
“They believe that the Houston Levee corridor provides access to the strongest demographics in the Memphis metropolitan area as a result of access to both Collierville and Germantown residents,” he added.
Vaughan said that the new property owners “have a strong belief that a portion of the property will be well suited for an emerging residential component.”
“They have extensive residential development experience in Collierville and fully understand that market,” he said. In an effort to preserve the green space and natural areas near the Nonconnah Creek floodway, some areas of the property will remain a “green corridor.”
“The real estate market has clearly dictated that this tract of land has not merited consideration for office development,” Vaughan said speaking of the future of the property.