Memphis land development is moderate dependable The Commercial Appeal
“Frank Stallworth (Photo: File)
We may not always be recognized for it, but Memphis is a city of growth.
Our growth isnu2019t flashy like in other cities with luxury condo developments and massive apartment towers, but thatu2019s OK. We shouldnu2019t aspire to be a boom-and-bust city.
Instead, we should continue to be a self-reliant community that invests in itself for smart, sustainable growth. That kind of growth is better for investors and u2013 more importantly u2013 better for our city.
The occupancy rates in our apartments and condos are high but not quite full, which means our developments are driven almost entirely by demand, not speculation. That demand for new projects is only occasional and largely driven by job creation and shifting patterns in where people want to live.
Many companies are creating new jobs in Memphis, which brings more people and more need for properties to serve them. But a large percentage of the new jobs are with companies already based here, not necessarily a result of corporate relocation. That leads to a less dramatic style of growth.”