Birmingham developer plans luxury apartments near Winchester

A Birmingham developer plans to erect 328 luxury apartments near the southwest corner of Winchester and Forest Hill-Irene.

The $29 million plan for Miller Creek Apartments has started making its way through the regulatory process.

The project will require a change to the 16-year-old Forest Hill Heights Planned Development for commercial and office uses to allow multifamily housing.

Red Mountain Development has a contract to buy the 20 acres.

The firm builds townhouses, apartments and condos throughout the South, including Birmingham, Charleston, S.C., Huntsville, Ala., Chattanooga and Little Rock.

Finishes and amenities for Miller Creek’s dozen buildings will include granite countertops, ceramic tile in the bathrooms, faux wood floors, resort-style pool, fitness center with cardio and theater equipment, a bocce ball court, garden space for residents, a recycling center, a yoga and spinning room, a cyber cafe and coffee bar, three to four acres of green space, and a community grilling area with outdoor kitchen and fireplace.

“This property will definitely raise the bar for the quality of multifamily housing in the Memphis area,” Red Mountain Development president Robb Crumpton said.

Red Mountain wants to build in Memphis because there’s been a lack of a new supply of apartments and because it feels it has found an ideal spot.

The Winchester/Forest Hill-Irene intersection is surrounded by jobs, Crumpton said, including Southwind office park, FedEx World Headquarters, FedEx Technology Center in Collierville, and Nonconnah Corporate Center.

The site is in unincorporated Shelby County, but within Memphis annexation reserve area.

Blake Pera, who analyzes the multihousing market as vice president for CB Richard Ellis Memphis, agrees it’s a good time to build these apartments.

“Market fundamentals have been improving in the Memphis market for the last few years, and operations at Class “A” properties have shown strong growth,” Pera said.

“This has been a compelling story nationally for the last 12-24 months, and apartments will continue to perform very well against the stagnant single family market,’’ he said. “Red Mountain builds a beautiful product, one that should be well received by the market.”

The site is on Winchester, 1,165 feet west of Forest Hill-Irene Road.

The Memphis/Shelby County Office of Planning and Development staff recommends approval, but with some conditions.

Multifamily housing is compatible in an area that already has major apartment developments just west on Winchester, the staff report states.