Loeb Looking to Build Homes Near University of Memphis

"Loeb Properties has a piece of University of Memphis-area land under contract for purchase and the eventual construction of single-family homes.

The vacant land faces Ellsworth Street between Midland and Central avenues and was intended for townhomes as part of the Highland Row project.

Indiana-based developer Milhaus Ventures planned 35 townhomes on the west side of the development to complement the 354 apartments and 32,000 square feet of commercial space. Milhaus gained approval from the city-county Office of Planning and Development to build the townhouses but never broke ground. Construction of the greater Highland Row development is expected to continue into next spring.

Single-family construction is a departure for Loeb Properties, a local developer that many associate with the vibrant retail and entertainment areas.

Matt Prince, senior vice president of brokerage and development, said that Loeb was drawn to the site because of the hot residential demand in the area."

Read more in the Memphis Daily News