$8M Permit Application Filed for Orleans at Walnut Grove
Published on: October 14, 2011
Kate Simone, The Daily News
Orleans Apartment Community LLC has filed an $8 million building permit application with the city-county Department of Construction Code Enforcement for construction in phase one of Orleans at Walnut Grove, an apartment community off Walnut Grove Road in Gray’s Creek Reserve in Eads.
Phase one will include 180 one-, two- and three-bedroom units, 48 of which will face a 25-acre lake. Apartment Community LLC has broken ground and expects the permit to be finalized by Oct. 31.
The project architect is McGehee Nicholson Burke Architects, and the engineer is Fisher & Arnold Inc. Orleans Apartment Community LLC is the contractor.
Wes Misenhelter, managing partner of Orleans Apartment Community LLC, said he wants the development to be more than apartments – he wants it to be a lifestyle community. To that end, he said apartments will be built on about 10 acres of the 18.3-acre site, with the balance of the property featuring a walking trail, small softball field and basketball court, among other things.
Phase one – which will comprise seven of the 10 built-out acres – will also include construction of a clubhouse, pool area and fitness center, Misenhelter said. The clubhouse will be 5,000 square feet and will include a surround-sound theater as well as an Internet café that will serve pralines imported from New Orleans. The fitness area will be about 3,000 square feet, and the pool area will include a gazebo with outdoor kitchen and TV, he said.
The design is about two years in the making, Misenhelter said, and is influenced by the French Quarter in New Orleans – though not modeled exactly like it. Construction is expected to be under way in November, with the clubhouse open in March and move-in beginning in April. Phase one is expected to be completed in October, he said.
The total project cost of phase one is $15.6 million. The $8 million permit covers building structures but not site costs, architectural fees and other associated costs.
Phase one is being financed by a $11.9 million loan through U.S. Bank NA, a transaction that was facilitated by Rick Wood, executive vice president of Financial Federal, Misenhelter said. (For more information on the financing, see the Sept. 7 edition of The Daily News at www.memphisdailynews.com.)
Phase two will be separate from phase one, with its own financing and permits. That phase will include 96 units in four buildings on about three acres. Misenhelter said he expects work on phase two to begin June 1 and wrap by December 2012.