Suburbs

The Lake District remains unfinished, and little progress has been made on the project since developer Yehuda Netanel declared bankruptcy in 2023.

I wasn’t as skeptical about the endeavor as some were (Clay Bailey, the usual wordsmith of this column, comes to mind). When I do venture to Lakeland instead of sticking to the eastern Shelby County suburbs I cover, it makes me think what could have been. It also makes me think maybe some of the naysayers were right.

Reporter Michael Waddell shed some light on the situation this week, and it looks like there could be some noticeable upgrades to the site soon.

But as happens with some developments of this scale, there could be changes along the way.

Rompsen Investment Corp. bought the majority of the 160-acre Lake District site (except for the townhomes) nearly two years ago in a foreclosure sale.

The townhouses, which were going to be for sale, will now be available to rent. REV3, which bought that portion of the property, is building the units, which will likely rent for $2,800 to $3,000 a month.

I cover Germantown and Collierville mostly, and I’ve heard plenty about apartments and renters over the years. Local legislative bodies can only approve the building type and ensure that the use being developed is allowed under the site’s current zoning. Whether a space is for sale or for lease is up to the developer. And local leaders are subject to state and federal laws governing that. So, unless a state or federal law changes, the local elected officials’ hands are often tied.

A new 121-room Hilton LivSmart hotel on the development’s northwest corner was also recently approved by Lakeland’s planning and design review commission.

Finishing the project is still years away, but the progress gives hope that the promised development may come along one day. It’ll just be others delivering on the promise rather than Netanel. - Suburbs reporter Abigail Warren

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