8/22/08 - Residences at the Greenstone located at 1116 Poplar Ave. is a thoughtful renovation of a 1920’s castle style apartment building. There are eighteen condos total, sixteen two-bedroom floor plans and two three-bedroom penthouses in three separate buildings. Units range from $165,000 for a two-bedroom, one-bath unit to $335,000 for a three-bedroom, two-bath penthouse with sunroom. Sizes range from 1,134 to 2,386 square feet.  Kendall Haney Realty Group and the Downtown Condo Connection are handling sales and marketing.

Blackstar Capital Partners LLC began this apartment to condominium conversion project about 14 months ago. Residences at the Greenstone is a very unique gated condominium development with an address bordering Midtown and Downtown at 1116 Poplar Ave., close to I-240. The three buildings, originally built in 1927, are listed on the National Register of Historic Places and were designed by Hubert T. McGee, the architect who designed the Pink Palace. The buildings were constructed with reclaimed elements from the George Arnold mansion, a building which previously sat on the site. The restored look still has the signature green sandstone façade and magnificent restored to original look and feel features, including the hardwood floors, 8 ft. mahogany doors and a hand-carved, three-story mahogany staircase. “Some people who walk in think the 80 year old floors and staircase are new, but they’re actually restored,” says development partner Tobey Hubbard.

Inside and out, there are so many details about the Greenstone that show the care and detail the development team has taken to restore this magnificent midtown Memphis gem. “We like to do projects that no one else is going to re-create” says development partner, Steve Weisman.

Residences at the Greenstone offers some very appealing floor plan features. First, there are only two condo units per floor. “You buy a condo here and you really only have five neighbors in each building” Hubbard adds. And no condo shares a wall with another residence, which is rare for most condominiums. Each residence has two entry doors. Also, every residence at the Greenstone offers three window walls with shaded views of the manicured lawn.

A walk around Residences at the Greenstone shows right away how much care the developers took to ensure an enjoyable outdoor experience. “We’re control freaks,” says Hubbard. “We are the owner, the developer, and the contractor, which means we are involved in every aspect of the project and solely responsible for quality control. The development team spent over $100k on landscape design, lighting, new parking pavement and the new 7ft. ornamental fence surrounding the property. The three condominium buildings (six condos per building) are situated on about one acre with several mature trees that have been smartly trimmed out to provide the views without losing their shaded canopy. The landscaping, tree canopy and large, shaded outdoor leisure patio provide a park-like feel hard to find in Memphis condos.

Then there are all the charming, unique interior features, normally found in stately midtown Memphis single family homes. Entering in the front of the building facing Poplar Ave. brings you to the stunning Mahogany staircase fully restored to its 1920’s original look. Within select condo units, you’ll find tons of characteristic features that prove the Greenstone is not your ordinary condominium including marble counters, archways, glass panel doors, claw footed, glass-door custom cabinetry, butler pantries and sunrooms. And the Greenstone offers lots of windows for great natural light and relaxing views onto the lawn, with some units offering turret style window bays. All windows are double-hung designs totally restored to original working order. “We probably spent as much on the windows as any single feature throughout,” says Hubbard.

Unlike a lot of midtown and downtown Memphis condos, storage is not a problem at the Greenstone, as every room, even the bathrooms, offer closets with built-in shelving. All kitchens are big enough to eat in. And parking is also not a problem with 30 spaces for 18 units.

For a truly unique experience, don’t miss the two three-bedroom penthouse units that offer loft-style master bedrooms, skylights and spiral staircases.

Perhaps the best aspect of the Residences at the Greenstone is the value and the prices, which average about 20 percent less than your average downtown Memphis condo on a per sq. ft. basis. “We strongly feel we have a superior product at a great price point that is truly unique,” adds Hubbard. “Residences at the Greenstone are an excellent fit for medical professionals who work nearby, empty nesters and second home owners, as well as any buyer who appreciates the character and architectural merits inherit in this project.”

Residences at the Greenstone is convenient to a lot of major employers and local economic engines including Le Bonheur Children's Medical Center, Memphis College of Optometry, St. Jude Children's Research Hospital, Memphis Bioworks Foundation and the downtown University of Memphis Law School coming soon.

Right now Residences at Greenstone has several units move-in ready and the development team expects all of the condos to be ready in 60 days.

Stop by the Residences at the Greenstone for your own private tour every Saturday and Sunday afternoon, 2 to 5 pm. For more information, contact Kendall Haney Realty Group and the Downtown Condo Connection.

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