MEMPHIS, Tenn. — The historic Soulsville area of South Memphis is being revitalized.
Developers with The Compass Circle are bringing 11 new affordable luxury homes to the community.
Cassey Cooper with The Compass Circle told ABC24 their groundbreaking event on Saturday was an opportunity to show the 11 homes that they believe will soon be occupied. She believes this housing development can create an economic shift the community has been waiting for.
"You have the Stacks Museum, you have LeMoyne Owen, I mean this area been here and will continue to be here. These homes will be here 100 to 150 years," Cooper said, "The economic impact here, primarily, you know even in property taxes, 11 new homes going up is going to do a lot for the city."
Venytra Stephens with The Compass Circle told ABC24 rebuilding the Soulsville community is a full circle moment. She said this the community she primarily grew up in and wanted to make a difference. Stephans said the homes will be 1540 to 1600 square foot, with three to four bedrooms and two bathrooms.
"We're here to change the trajectory of this area, 38126, a lot of people don't know about 38126, but this is a area where you will be able to afford your home," Stephans said.
According to Stephans, they are trying to create a buzz to make sure people in Bluff City and across the country know the things going on in Soulsville. She said one of their goals is to make sure potential buyers of these homes get to be involved in the entire experience.
"Here in Memphis Proper, you will be able to find new construction where you'll be able to experience sometimes picking out your carpet, you're picking out your tile, having the new construction buying process," she said.
Dr. Tara Ross, the chief operating officer for LeMoyne-Owen College said this housing project is the type of progression both their students and the community need to witness.
"Of course, it helps to build the excitement about what our students are seeing and what they can progress to and hopefully invest in by coming back once they graduate and of course living in the city," Dr. Ross said.
According to Dr. Ross, this housing development proves the promise of LeMoyne-Owen College is not going on deaf ears because the college is also supporting the community around it.
Both Stephens and Cooper said four of the 11 homes will be ready for purchase in the next 120 days.