Giant development could bring Collierville upscale retail, hotel, housing

Jul 21, 2014

 Memphis Business Journal - by Ryan Poe

A Memphis developer is looking to build upscale housing, retail and even a hotel on a prime, 253-acre property off of Bill Morris Parkway in Collierville.

The Crews family, who own Collierville-based protective equipment maker MCR Safety, have purchased the land northwest of the Houston Levee exit off state Route 385 for $2 million, said Jason Crews, who owns and founded Memphis real estate firm Crews Realty.

"I'm a big believer in Collierville," he said. "That's a great location with a lot of traffic at that intersection. It's the gateway to Collierville."

The investment is a long-term one: Development of "at least" 300 to 400 lots could begin in two to three years, with commercial development in three to four years, Crews told me.

The houses will retail at about $350,000, he said.

The plans are all still very preliminary, Crews said. He hasn't talked to any hotel brands yet and he doesn't have a feel yet for how much retail space he'll need. The stores would likely be less high-end than the nearby Carriage Crossing lifestyle center.

But Crews said one of his more-developed plans is to extend the Greenline along Nonconnah Creek, which runs through the property.

Crews' HL385 Investments LLC on Monday bought the property, which consists of three parcels, from Jane Haynes, Barton Haynes, Elizabeth Burnett and Mary Gardner, according to public Shelby County Register of Deeds records.

The family's MCR Safety last year built a 45,000-square-foot, $27.7 million headquarters in Collierville's Schilling Farms.