Harbor Town, established in 1989 — making it the granddaddy of the downtown residential revival — is getting a new neighbor. Toward the south end of Mud Island, near the Auction Street Bridge, RiverTown is going up. Occupancy is set for November.
Keith Grant, who, along with his brother David, is a principal for RiverTown, says the downtown development was a change of pace for the homebuilding team.
"In the past, we've done predominantly single-family housing," Grant says. "We feel like some of the projects downtown are too contemporary or they don't have a view of the Mississippi River. By building [RiverTown] and not retrofitting a building, we feel that we can offer something for Memphians to purchase that they can enjoy."
Grant is president of the Memphis Area Homebuilders Association (see his monthly Living Spaces column on page 4), the third generation of Grants to be so appointed (after his father, Richard, and his grandfather, Carl).
When the finishing touches are put on it, RiverTown will be composed of 200 units in 23 buildings. Prices will range from the mid-$200,000s to the upper-$600,000s, with sizes going from 1,300 to 3,200 square feet. Some units are two or three stories high. The 3,200-square-footers will have a large patio overlooking the river and a recreation room on the upper floor.
"The best part about RiverTown are the views," Grant says. "Every unit has a view of the river or looks back at the skyline. In some cases, they have a view of both. Every unit also has a balcony. We oversized the balconies because we knew people would be spending time on them." Each unit comes with a garage as well.
Grant feels like he's well suited, through his homebuilding experience, to know what people are looking for in the real estate market.
"Even though they want something that's a little contemporary for downtown, the bottom line is that Memphians are still traditional," Grant says.
"The styling at RiverTown is more contemporary on the outside. Yet, it has a resort appearance because the overhangs on the buildings are similar to what you might see in Florida. We aren't just putting siding all over it. We're putting brick, because people down here are accustomed to it."
Grant assures that RiverTown will fit in nicely with the neighborhood.
"They've got a lot of good things going in Harbor Town," he says. "It's a nice community with a resort feel to it. That's kind of what we incorporated into ours. We wanted to be an extension of what's in Harbor Town now."
RiverTown isn't all that different from other projects Grant has been involved with, he says.
"The nice thing is that RiverTown is all on one site. [It's] not spread out, which makes it a lot easier to supervise. It's still wood frame. We still use a lot of the same contractors that we use on our single-family houses. So we feel we have a lot to offer coming from the single-family market."
See for yourself by logging onto RiverTownOnTheIsland.com. In addition to floor plans and renderings of what's in store for Mud Island, you can go on a virtual tour of what a furnished unit will likely look like. ■ — GA