The Crossings at Exum Place: A Transformative Investment Opportunity in Jackson, TN
Hello, real estate enthusiasts and investors! Today, I am thrilled to share details about a groundbreaking master-planned development project in Jackson, Tennessee – The Crossings at Exum Place. This exciting new development promises to reshape the local real estate landscape and offers lucrative opportunities for savvy investors.
The Crossings at Exum Place: An Overview
The Crossings at Exum Place is a massive 208-acre master-planned development set to take root along Ashport Road, strategically situated between U.S. Highway 45 Bypass and North Highland Avenue (U.S. Highway 45). This development is the result of the diligent efforts of The Crossings Partners and the critical approval of the Madison County Commission, Jackson Industrial Development Board, and Jackson City Council.
This proposed $350 million mixed-use development will leverage a $20 million Tax Increment Financing (TIF) incentive, an innovative mechanism that utilizes future tax revenues to fund large projects' necessary public infrastructure. This means that for every dollar the city and county put into the TIF, they will receive $2.67 back.
The vision for The Crossings at Exum Place is remarkable, reflecting a thoughtful blending of residential, commercial, and entertainment areas that promote walkability. The Memphis-based architectural firm, LRK, renowned nationally for their mixed-use projects, has designed the development in collaboration with The Crossings Partners.
Main features will include 260,000 square feet of commercial development, 1,100 residential units, outdoor venues, a farmers’ market, and approximately 40 acres of green space inclusive of multiple lakes and dog parks.
"Expanded and affordable options for live-work-play are on the cards, with over 600 single-family homes & townhomes, along with over 500 apartments, including loft apartments and senior housing units," says Chris Carothers, real estate broker and partner. The development is also expected to house grocery stores, restaurants, a healthcare/fitness center, and potentially even hotels.
An economic impact analysis by Younger Associates predicts this project will create 1,500 new jobs and generate an impressive economic impact of over $3.4 billion for Jackson and Madison County over the next 20 years. The development is also anticipated to produce more than $68.4 million in net new property taxes and over $62.5 million in new local sales taxes during the same period.
“This development comes at a pivotal time for Jackson and Madison County. Employees of our existing and incoming industries – including Georgia-Pacific, 6K Energy, and BlueOval City – are already exploring housing alternatives in Jackson and surrounding towns,” said Kyle Spurgeon, CEO of the Greater Jackson Chamber.
Embrace the Opportunity
With over two years in preparation, The Crossings at Exum Place is primed to redefine the landscape of Jackson, Tennessee. For real estate investors, this represents an opportunity to be part of a transformative project that is likely to offer rewarding returns. This project promises to bring unprecedented growth to Jackson, enhancing its allure to both new residents and businesses.
Whether you are an investor looking to expand your portfolio or a business looking to benefit from this exciting new development, now is the time to take action. The Crossings at Exum Place is more than just a real estate development; it’s a testament to the vibrant future of Jackson, Tennessee.