MEMPHIS, Tenn. — Memphis area leaders broke ground Wednesday, Dec. 7, 2022, on a new 170-acre mixed-use development at the former site of the north course of the Colonial Country Club.
Developers said The Legacy at Countrywood will includes a residential neighborhood with 541 single-family lots, 302 senior living units, 40,000 sq. Ft. of retail and restaurant space, 130-room hotel, and 300 multi-family units.
Tax Increment Financing (TIF) was approved by the Memphis City Council and Shelby County Commission to address infrastructure needs such as sewers and a road linking the area to Highway 64. Developers said during the term of the Tax Increment Incentive, total property taxes for both the city of Memphis and Shelby County are expected to exceed $127 million.
“This will be one of the largest developments in the city of Memphis in decades,” said Jim Russell, managing partner of CCClub Holdings, LLC, in a news release. “It will be a walkable neighborhood, enhance the Wolfchase area and will become a welcome addition to the Highway 64 corridor between Memphis and Ford Motor Company’s Blue Oval City near Brownsville, TN.”
“The Legacy at Countrywood will bring a quality development that complements the existing neighborhood and the Colonial Country Club and adds significant new tax revenue once completed,” Mayor Jim Strickland said. “I’m excited about this project and the potential it will bring to this part of our city.”
“The Legacy at Countrywood is another sign of the momentum within Shelby County," Shelby County Mayor Lee Harris said. "I’m thankful to all those involved, including the Shelby County Board of Commissioners, who took action to serve all residents in Shelby County. Not only will this project bring new amenities to the Wolfchase area, but it will also build new pathways to enhance all of our residents’ futures.”
