January 11, 2016

Boyle Residential Park Flying High

By Jane Aldinger
– Memphis Business Journal –

Boyle Investment Co. is developing a 100-acre residential community in Collierville that has 150 lots mapped out through five total phases.

Braystone Park, located off Bray Station in the northwest area of the town, is currently in its third phase of development. Homes in Braystone are priced from about $450,000 – $700,000 with an average lot size of about 15,000 square feet.

Gary Thompson, vice president of Boyle, says the amenities Braystone offers its residents include a walking trail, private parks, two lakes, a swimming pool, a tennis court and a private soccer field.

“I don’t’ think you’ll find any other residential community in Shelby County that offers such a wide array of neighborhood amenities,” Thompson says. “The common areas encourage interaction among neighbors, and the outdoor amenities are perfect for busy families whose children can enjoy swimming, tennis, walking trails and soccer without ever having to leave the community.”

Boyle expects retail sales of Braystone lots to generate about $15 million – $16 million, Thompson says.

The land Braystone Park sits on includes a 50-acre lake and was first slated to be a golf course community developed by the town of Collierville. But when that idea flopped, Boyle moved forward with plans to configure the residential neighborhood.

Construction began in late 2002 as Boyle quickly sold out of phase one and two lots. Now, all 35 of phase three’s lots are sold, and construction on the amenities is nearing completion.

Thompson says there are eight builders in the phase three group, giving buyers a choice of builders to construct their home. Boyle is imposing strict architectural guidelines and has an approved list of architectural firms that can design in Braystone.

The garage doors, for example, must be built so they can’t be seen from the street, and the houses are being built to gather around the pool and central park amenities.

“It’s really difficult because you have to look at every house and every lot with a non-jaundiced eye, as a part to a whole.” Thompson says. “You have to see the whole big picture so everybody and their investment are protected.”

Builder John Worley of Worley Builders, Inc. has built five homes in the development and has purchased eight lots with the launch of phase three. He says the development has been successful beyond his expectation, and he has yet to finish a house before it has sold.

“We were one of the first builders to commit about 2-1/2 years ago, but it’s been stronger than we anticipated,” Worley says. “We just feel fortunate that we’re a part of the builder group that is there.”

The houses Worley has sold are mostly to families who are looking for a bigger and nicer home but want to stay in the Collierville community. Worley Builders’ houses in Braystone average about 4,400 square feet and have sold for $470,000-$550,000,

“It’s probably one of the first move-up areas in Collierville where people want to make the next step up and still want to stay in Collierville,” Worley says.

The idea to furnish Braystone with amenities came out of the fact that the acreage is an old gravel mining area. Some spots within the 100 acres were not suitable for residential construction so they were transformed for other uses.

The whole area is zoned residential so there will be no mixed-use construction as in Boyle’s Schilling Farms development, also in Collierville.

Thompson says Braystone is capturing the upper tier of the residential market in Collierville, providing a quality community in a town that has seen rapid growth over the last several years.

“It’s a small town atmosphere, but it’s not a small town anymore,” he says. “I think they want to set the standard in terms of development quality.”

Earning between $125-$140 per square foot, Braystone’s pricing is competitive with East Memphis and most of Germantown.

“It’s Germantown, a little farther east,” Thompson says.

Other residential communities Boyle has developed include the Gardens of River Oaks, Blue Heron, the Cloisters of River Oaks and Green Shadows. Worley says Boyle’s strict attention to architecture and construction sustains its residential developments in the future.

“I think Boyle’s hard work on maintaining a good presence and reviewing plans makes a lot of difference.” He says.

“I think Boyle’s hard work on maintaining a good presence and reviewing plans makes a lot of difference.” He says.

“They’re tough on builders to make sure they have a quality subdivision, which I think is great. They’re really persistent on having good architectural control.”