Developers roll out updated site plan for Angelo’s Grove

Developers roll out updated site plan for Angelo’s Grove

Marion property ‘ couldn’t be a better regional location’

news@theeveningtimes.com

In sports it’s called the “sweet spot” — the spot when the bat makes perfect contact with a baseball that sends it out of the ballpark for a home run; or the perfect backhand in tennis; or that drive in golf when the club hits the ball just right and sends it straight down the fairway.

To developers Dick Leike and Kenny Farrell, Angelo’s Grove in Marion is the “sweet spot” in the region.

It’s at the crossroads of two of the busiest Interstate highways in America. It’s closer to downtown Memphis than parts of Memphis. And it is a safe and forward looking community thanks to its political leadership and first responders.

“We’re on I-55 with State Highway 64 running down one of our borders,” Farrell said. “It couldn’t be a better regional location.

Marion is a wonderful town to have a large development.”

Farrell and Leike hosted a second informational meeting last week to update the community on the progress and future plans taking shape at Angelo’s Grove.

The partners had previously announced a series of events and mini-concerts that will be held at Angelo’s Grove starting in 2018 to help boost traffic to the existing businesses, and this week focused on a revised site plan for the town square.

The square will be anchored by the MAG Center, a combination movie theater and convention center with two adjoining hotels and three five-story mixed use buildings with office and retail on the ground level and 300 to 500 condo units.

“The town square is a cluster of mixed use buildings where people live, eat, and shop,” Farrell said.

“It’s an urban environment.”

Farrell said one of the big changes to the master plan is that they have moved the MAG center to the front of the development.

“The owner of Colton’s, E.J. Miller, made a pretty substantial contribution to our plan,” Farrell said.

“We originally had it located on the back side of the town square. E.J. pointed out that since that’s the cornerstone and the future of this, it should be more visible and at the front. So not only does that move this closer to the visibility from I-55, it also take those five story buildings and gives them more buffer from the noise.”

The convention center will be a 60,000 to 70,000 square foot facility with three to four banquet halls that will be large enough to accommodate large conventions, but also smaller meetings, weddings, and family reunion type events as well.

We’ve been working on a convention deal and looking at what the possibilities are not just for businesses, but a place where family reunions, wedding and other events can go,” Farrell said.

The movie theater will have stadium seating with corporate boxes.

Farrell said although they are still three years away from building the convention center, the prospects for getting it built have never been better.

“We’re as close as we’ve ever been to a deal,” Farrell said.

In the meantime, Farrell said the announcement of two new hotels is great news for the development.

Yogesh Shah, who opened the Hampton Inn which is enjoying tremendous success, will be breaking ground on a new Marriott brand hotel. And Mike Patel, who owns the Halmarc Inn in Marion, will be breaking ground on a new Best West hotel.

“That says a lot about the community and the confidence they feel in Angelo’s Grove,” Farrell said. “ A discerning businessman doesn’t do that unless he sees the community has potential. And it is a much smaller town than Marriott usually goes to. But there is so much that feels good here. So we are encouraged that he has started his second project here in Angelo’s Grove. Yogesh is a terrific example of people who have expressed confidence in us.”

Farrell said Marion’s proximity to Memphis will also be a draw to young adults and empty nesters looking for housing close to urban amenities.

Angelo’s Grove will have 300 to 500 condo units in the town square, and 50 zero-line garden homes with a tennis court and swimming pool adjacent to the town square.

He pointed out that University of Tennessee Medical School, University of Tennessee Pharmacy School, University of Tennessee Dental School, Southern College of Optometry, and University of Memphis Law School are all within a 15 minute drive of Angelo’s Grove — none of which have places for those students to live.

“All of that is in downtown Memphis. And downtown Memphis is sold out essentially of condos and rented out of apartments,” Farrell said. “Those young adults have begun to shop for homes over here. But a lot of these people want a Harbor Town environment. So we have the ability for young homeowners to shift right here that can walk to restaurants and a movie theater in this town square. And it is a safe community.”

Farrell said while they expected more retail to locate in Angelo’s Grove, the recession which started in 2007-2008 caused a lot of retailers to cancel or cut back and re-think their site locations.

While they haven’t given up on landing a big box retailer, the recession forced them to re-think the design plans at Angelo’s Grove.

“As more and more people shop by clicks rather than bricks and mortar, we had to re-evaluate the retail component,” Farrell said.

“We still have prospects telling us let’s see a little more progress and traffic and we will look again. So we might get another pass at a Home Depot or Lowe’s.”

Farrell said the market right now for Angelo’s Grove is for more hotels and restaurants. He has contracts for a sports bar and grille, and an Italian restaurant, and are talking to three hotel prospects.

“We have three real prospects now for more hotels,” Farrell said. “So a lot of this that sounds big and ambitious, we already have rolling.”

Leike, who has invested over $4 million in Angelo’s Grove, said he remains committed to the project and to the region.

“You’ve got a jewel here because it is so well situated,” Leike said. “It can bring people from outside of Marion and West Memphis here to have meetings, and for shopping, and relaxation, and to take advantage of what you have going on here.

Yes, we’ve put a lot of money in to it already. It may not show. You just can’t pop it out of the ground overnight. If retail isn’t buying sites, you can’t sell sites. But now they are back in the game to a certain extent. We are behind the region and we are behind the cities of West Memphis and Marion and will do everything we can to keep it going.”

By Mark Randall