Residential, commercial & entertainment – construction begins at ‘The Crossings at Exum Place’ – WNWS Radio – Jackson, Tennessee, USA

JACKSON, TENNESSEE – Construction has begun at ‘The Crossings at Exum Place,’ a 208-acre, $350 million mixed-use development located along Ashport Road, between U.S. Highway 45 Bypass and North Highland Avenue (U.S. Highway 45) in Jackson and Madison County.

The development will utilize a $20 million TIF incentive, which is a method of monetizing future tax revenues to help developers and municipalities cover costly public infrastructure for large projects. For every dollar the city and county allocate to the TIF, they will receive $2.67 in return.

The Crossings at Exum Place was designed in collaboration with LRK, a Memphis-based architectural firm renowned nationally for their expertise in mixed-use projects.

This development will blend residential, commercial, and entertainment areas while promoting walkability.

Main features include 260,000 square feet of commercial development, 1,100 residential units – 600 single-family homes and townhomes and 500 apartments – which includes loft apartments and senior housing units – outdoor venues, a farmers’ market, and approximately 40 acres of green space – including multiple lakes and dog parks.

The Crossings at Exum Place is also in discussion with grocery stores, restaurants, a healthcare/fitness center,apartment groups – and hotel groups.

The project is expected to create 1,500 new jobs and have an economic impact of more than $3.4 billion for the City of Jackson and Madison County over the next 20 years.

This development is projected to generate more than $68.4 million in net new property taxes and more than $62.5 million in new local sales taxes during the same period.

The Crossings Partners is a Tennessee General Partnership comprised of Shane McAlexander, Joel McAlexander, and Chris Carothers.

FOR MORE LOCAL BUSINESS NEWS CLICK HERE