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Downtown Memphis Vesta Home Show A Hit!

5/19/06 - The Memphis Area Vesta Home Show's return to Downtown Memphis this year was a success, with thousands of people from across the Memphis area pouring into the South End neighborhood from April 15-30. Around 9,000 people attended the two-week event, which featured eight different Memphis area home builders. Those who attended, mostly young professionals and empty nesters seeking an active lifestyle, purchased $8.6 million in condominiums, lofts and townhomes in one of Downtown's hottest neighborhoods.

It is the first time the Home Show has been held in Downtown Memphis since 1993, when Harbor Town hosted the event. And it is the first time the 22-year-old show has been held inside Memphis city limits since 1997. Downtown's rapid residential growth signified it was the right time for the show to return to Downtown. 38103 is one of Shelby County's fastest growing zip codes.

"It was a great opportunity for us to go back into the city of Memphis," said Dalene Wilson, Director of the Vesta Home Show for the Memphis Area Home Builders Association. "It was a different type of show, not your typical Vesta Home Show held in one subdivision."

Every year, the public votes for its favorite development in the show. River Tower at South Bluffs, formerly the old Rivermark, won this year's People's Choice Award.

“We believed from the beginning that River Tower would be a special place for people to call home,” said Mike Maerz, Director of Investments for McCord Development, which is developing River Tower.  “From the views of the river and the Memphis skyline to the private park and Olympic-size pool along the bluff, River Tower offers a unique downtown living experience. Being invited to participate in the Vesta Home Show along with the other South End neighborhood developments was a wonderful way to showcase the new lifestyle growing in Downtown Memphis.”

Other builders who participated in the show include FaxonGillis Homes, Chamberlain, McCreery & Rice, Architectural CustomWorks, The Bryan Company, The Nashoba Group, Crews Realty and Beazer Homes, USA.

While eight developers took part in the show, 13 developers are active in the South End neighborhood, which covers about 30 acres near the South Bluffs development and includes portions of the South Main Historic District. It's estimated that about $500 million in development is planned for the area for the next five to seven years.

The South End is currently buzzing with construction daily. Southland Development, which owns about 17 acres in the area, has recruited Looney Ricks Kiss to develop a master plan for the area based on "new urbanism". New urbanism is the concept of urban mixed-use communities that integrate housing, offices, schools, parks, civic facilities, and shopping and entertainment areas in a walkable development. New Urban communities offer a broad inventory of housing types and price ranges, attracting a diverse group of residents.

The groundbreaking Harbor Town community first introduced many Mid-Southerners to the concept of new urbanism, and the $8.6 million in South End property sales during this year's Vesta Home Show is proof positive of Memphians' attraction to the amenities offered by this type of neighborhood and lifestyle.

"We're very excited by the number of units sold and total sales. From that perspective, we're more than excited", said Wilson.

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by Aisling Cordon Maki

 

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