It’s one of the largest developments in the Memphis region and the official, ceremonial groundbreaking will be next week.
Groundbreaking Ceremony – The Lake District
1 p.m. Wednesday (2.5.20)
3536 Canada Rd – I-40 and Canada Road
Gilad Development announced the ceremony for Phase 1 of The Lake District, a 160-acre lifestyle community, according to President Yehuda Netanel, who is also owner and developer of The Lake District.
When completed, The Lake District will consist of a 160-acre multi-use, lifestyle residential, retail, office and entertainment district that will be home to approximately 2,000 residents living in townhouses, single-family homes and apartments over retail, said Mr. Netanel. “They will enjoy the many amenities of the modern lifestyle development of the future.”
Mr. Netanel said the project consists primarily of two phases: Phase 1, which will focus on the construction of 200,000 square-feet of retail and entertainment, including a Malco new theater which will have nine screens and eight lanes of bowling; The Stock Market, a specialty grocer; restaurants; and retail shops.
Anchor tenants in addition to Malco include Gould’s Salon and Spa, Osaka Japanese restaurant, Brick House Fitness, Starbucks, AT&T, Hollywood Feed, Gloss Nail Bar, Germantown Wines and Liquors and more, said Mr. Netanel. Following and as a part of Phase 1, will be 109 residential town homes.
Phase 2 will include a boutique hotel site, an office building and more retail, restaurants, entertainment, single family homes and apartments. “We are pleased to be breaking ground on this important and regional project for the community,” said Mr. Netanel. “It has been in the planning stages for years and we are so excited that the timing is right and that the community is getting such a significant development,” he said. The land is the site of the former Belz Factory Outlet mall, he added.
Also announced is the selection of the General Contractor, Linkous Construction. “Linkous Construction Company is honored to be a part of the great team developing, designing and building the first phase of the Lake District,” said Rusty Linkous, president of Linkous Construction.
“This is a very unique project, not just for Lakeland, but the entire Mid-South market. Our team has been working closely with LRK (Looney Ricks Kiss) and Yehuda Netanel through pre-construction and are very pleased with the final design of the initial phase retail component of this development.
“We will employ measures to combat the wet winter weather which will allow us to maximize our work production over the next few months until we are able to realize a more dry condition on a regular basis. In addition, we look forward to starting another exciting Malco Theatre project within this same development very soon.”
Gilad has hired LRK architects as well as A2H for its architectural and engineering design team. “The Lake District is special, as it represents suburban redevelopment that creates long term value and a sense of place,” says Victor Buchholz, a principal at LRK on the project team.
“Projects like The Lake District aren’t conventional and cannot be done quickly, rather they require crafted, and specific architectural planning and styles that connect people and make it sustainable as a place where people want to be.” said Mr. Buchholz. The intention of the project is much like that of Harbor Town, Seaside and similar communities where people are attracted to the lifestyle and walkable communities, he said.
The location off I-40 in a growing part of Shelby County also makes this project desirable for many retailers. “We are talking to regional retail prospects who know the demographics and want to be in a highly visible and desirable place,” says Maggie Gallagher, director of development at The Lake District. “The future and success of retail has changed and people want to go where they are surrounded by unique features, gorgeous architecture, great restaurants and local retail options that give you a totally different experience from the traditional—the future of retail is really vastly different than what it used to be and that’s what we are delivering.”
Also noteworthy is The Lake District will be the first of its kind in the area as a “golf cart friendly” community with walking trails, a 10-acre lake that will have lakefront dining options as well as natural trails along the perimeter of the development. “We love the idea of connecting the community with golf carts which means less wear and tear on roads and they are just more fun,” said Mrs. Gallagher. “We see them all over Florida, so why not here in the Memphis region?”
With approximately 62,000 cars passing by daily along the growing I-40 east/west corridor, the project will draw from all over the region. “The location is just everything,” said Billy Rodgers, Crye-Leike’s exclusive Realtor for the project. “My phone rings everyday with people wanting to live in Lakeland due to both the location and the good school system there,” he said. “The housing demand is unreal and we think this project will be the town flagship and heart of Lakeland,” said Mr. Rodgers.
For more information, visit www.TheLakeDistrict.us
