The planned redevelopment of Colonial Country Club in Cordova has taken a major turn, including a new, deep-pocketed development partnership planning to add acreage, a mix of retail, restaurants, offices and full-service hotel.
The developers estimate they will spend $300 million, including $75 million in the first phase alone.
The request to change that massive project is one of several significant zoning applications filed this week with the Land Use Control Board, which will hear the cases at 10 a.m Sept. 13 at City Hall.
The CC Holdings LLC managed by Jim Russell revamped its plans for redeveloping Colonial’s now-closed second golf course.
The developers performed a market study and determined the original plan was too densely developed with apartments and lacked adequate road connections, the letter of intent states.
They secured the rights to purchase adjacent residential developments like Colonial Towers on the south side and Fairway Gardens Planned Development on the north side. The site plan would grow form 163 acres to 179 acres, the letter states.
“A successful development would require a true mix use development that would include retail, restaurants, hotel, and office’’ as well as residential, the application for the amended planned development states.
The local ownership group late last year took on a partner from Texas, JAMP. The letter describes the development company as a firm with “billions of dollars in successful real estate development experience.’’
The newest plan calls for 540 single-family residences on more acreage — 118 acres. It also calls for a reduction of apartments to 250 units, a reduction of senior-living apartments to 310 units, 9 acres of office park, 16 acres for retail and restaurants, 5 acres for what would be the only full-service hotel east of the Hilton, and millions of dollars in upgrades for the project’s anchor, Colonial Country Club and its championship South Course.
The developers are also talking with the Tennessee Department of Transportation about making access to U.S. 64 on the north side of the development a “full movement intersection’’ that could include a traffic signal.
The developers plan to host a community meeting about the changed plans at 6 p.m. Aug. 22 at Colonial Country Club.
In Midtown, a developer proposes to redevelop an acre near Broad and Hollywood into 10 lots for new houses.
Victor Hugo Torres and Dionisio Torres of Mallard Construction filed an application with the Land Use Control Board seeking subdivision approval for 485 Parkway Place. The parcel identification number identifies the site as the one where a large commercial building now stands at the northwest corner of Broad and Hollywood.
The houses would be 2,300 square feet and similar to the houses built the past year 1,200 feet south of the site, and just south of Sam Cooper