Lambuth Closing Affects Area Realty Numbers
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Before Lambuth University’s April announcement that it was closing, neighbors started voicing their concerns about the affect on the community. Now they said they are seeing the reality. Home “For Sale” signs have gone up on nearly every street throughout Lambuth neighborhoods. “I am sure some folks have contemplated leaving, we have not,” said LANA resident, Hewitt Tomlin. According to local realtors, between May, 21 and June, 21, 154 residential homes in the Lambuth area have been put on the market. “Probably a knee jerk reaction to the thought of Lambuth leaving,” Tomlin said. Many area residents said they have put their faith in the University of Memphis coming to Jackson to keep their community in tact and raise property value. “The board of directors are going to see the idea of 200 jobs coming in, the money that is going to bring in, the chance to restabilize Lambuth as the University of Memphis,” said Tomlin. “It is so vital to the city of Jackson, so vital to LANA. It’s so vital to our surrounding areas,” said Lisa Silver, a LANA resident. Silver lives across the street from a home that is for sale. “I think that this is prime real state for people who are going to relocate, hopefully, for professors coming in, for support staff,” Silver said. On June, 30 the campus will no longer be Lambuth University and the thought of an abandoned college, for the LANA community, is too much to bear. “Let’s not hope that way. Let’s hope it goes the opposite,” said Tomlin. If a sale agreement is not reached by June, 30, city officials said Lambuth could face bankruptcy. However, neighbors said they are confident the University of Memphis will move in eventually.
