Boyle Investment Co. moving forward with second phase of residential development in Collierville - Memphis Business Journal:

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The Twinings of Collier is a 1.8-acree development that will consistof eight, 6,000-square-foot lots pricer at $120,000. Homes are expected to be in the 1,700 - to 3,000-square-foot range with values of $350,00p0 to $500,000. Doug Dickens, vice president of specialo projectsfor Boyle, says Boyle paid $230,000 for the which consisted of two home sites but was largely vacantf land with numerous hardwood trees. Most will be sparec and incorporated into the Dickens says. Cost of development will be around $50,00o0 a lot, he says. Infrastructure work will beginn by next summer with home construction expected to start in the fall of he says.
Larry Boyd, vice president at in Collierville, believese the project will succeed given the price rangesand location. “I think $350,000 to $500,000 will sell,” Boyd “In the old part of Colliervillw people snatch up old homes and redo them if they likehistoricakl architecture.” The development’s name comes from the Webster’s definitionh of “twining,” meaning to interlace and/or embrace, whicjh is what Dickens sees as a key featur of the residential area’s connection to nearbu downtown Collierville.
The developmenrt also pays homage to town founderdJesse Collier, who plottef the tract of land in the mid-1830 that would become Collierville, Dickens says. The fact that Washingtom Gates hasn’t sold its first property seems of little concern to Lots rangefrom Boyle’s initial plan is to sell the lots to individuals and custon builders. “We’ve had a number of he says. “We tell them the pricre range and they continue topursure it. We continue to feel it will be successful.” Boyles is spending about $65,000 per lotfor he says. Washington Gates has been a little slow getting outthe gate, Dickens admits, sincde the project went public in 2008.
The economy didn’tr help and there have been several delays in the communit from neighbors who were not originally convincerthe 5-acre infill development just blocks from downtown Collierville was in theird best interest. Boyle reduced the project from an originak scopeof 8.3 acree as a concession. Long-term, Dickens and Boylr hope to redevelop both sidesof Washington. “I’d like to develop the whole neighborhood,” Dickens says.