Builders succeed by putting higher-end homes where others don’t
“I think we have Memphis folks that don’t believe in their own city as much as somebody who’s from out of town,” said Laurynas "LP" Petrauskas. He gave a tour on Sept. 29, 2020, of a three-unit townhome he and his partner Raymond Sharkus, both immigrants from Lithuania, built at 2115 Jefferson Ave., a block some might view as a less-then-prime location. (Patrick Lantrip/Daily Memphian)
The concept contradicts traditional ideas about real estate, but buyers are snapping up the relatively expensive houses Laurynas Petrauskas and Raymond Sharkus build next to less-valuable homes.
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residential development Homebuilders University DistrictTom Bailey
Tom Bailey retired in January as a business reporter at The Daily Memphian, and after 40 years in journalism. A Tupelo, Mississippi, native, he graduated from Mississippi State University. He has lived in Midtown for 36 years.
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