Lambuth Area Real Estate on Upward Swing Thanks to Development
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About a year after Lambuth University closed its doors, residents and Realtors are feeling more confident in the area thanks to new development and the University of Memphis moving in. Last year, it was evident that many were very concerned about the future of the area in fear of having an empty campus. Today, residents are excited about the growth of the new university. Realtors say the Lambuth and Downtown areas are both one of Jackson’s newest upcoming parts of the city. They expect investors to purchase homes around the campus to rent out to students, and they expect more value in property. Another big attraction is the upcoming 18,000 square feet of retail coming to downtown with the new Jackson City Walk. “It grows a little bit slower than maybe the north side of the community, but it is going to grow and develop. But I think now more than ever we have a lot of developers in Jackson that see the value in having a vibrant downtown. And they realize, if you’re going to have a great city, you’ve got to have a strong downtown.,” said Justin Beavers, a Jackson real estate broker. Jackson City Walk is expected to be complete in 2013. University of Memphis – Lambuth Campus fall classes begin August 27.
