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Developer outlines 62‑unit Memphis Run townhome project; council members press on timing and fees
Summary
A GD3 Ventures representative presented plans for Memphis Run, a three‑site, 62‑unit townhome project. The developer described product features, a sales strategy that stages construction following pre‑sales, and an estimated build cadence; council members asked about marketing, optional unit extensions, HOA fees and construction timing.
Ryan Holmes, presenting for the developer team, told the committee the Memphis Run project will be built in three sites—north (18 units), south (20 units) and east (24 units)—for a total of 62 Wexford townhome units. Holmes described the product as slab‑on‑grade three‑story townhomes with two‑car garages, a range of interior sizes, and options including rear decks and a 4‑foot extension that may not be available on every site due to soil or space constraints.
Holmes said the south site will host the model building; the developer intends to market the project near completion of the model and to stagger construction so that, after the model, a new building starts roughly once per month. He described a typical model build cycle of about 95 days and said the plan is to begin subsequent buildings when they are approximately 75% presold and mortgage‑qualified.
Council members asked technical and market questions: one member asked whether the base layout includes two full baths or two and a half; Holmes confirmed two and a half is standard with an optional lower‑level half bath if buyers finish that space. Members pressed on marketing strategy and timing; Holmes said marketing ordinarily begins about three weeks before model completion, using online outreach and a VIP list with a goal of selling a large initial tranche at launch.
Holmes discussed the target buyer profile—first‑time buyers and young professionals seeking low‑maintenance living and attached garages—and the team’s approach to affordability and local demand. He estimated HOA fees would target roughly $175–$200 monthly to cover snow removal, mowing and fertilization, and said the full buildout could take about two years from start of the model if sales match projections.
Transcript numbers for the advertised starting prices in the presentation were garbled in the record and could not be verified from the audio transcript; reporting here reflects the developer’s general pricing direction and the presentation summary rather than a verbatim numeric quote.
The developer provided brochures to council members and said more detailed pricing and plat information will be available as the plat is recorded and building permits are submitted. The committee asked for continued updates as the project moves from platting to permitting and construction.
