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Second Major Development in One Month Announced in Tunica County Resort Area
TUNICA, Mississippi (August 3, 2006)—Landworks Communities announced the purchase of a 721 acre tract of land at Old Highway 61 and Casino Strip Boulevard (Highway 304) with plans to build hundreds of homes.
“The property is to be developed as a master-planned lifestyle community and will be called Indian Creek,” Frank Aldridge, a partner with Landworks Communities said. “Upon completion in five to seven years, the community will include more than 900 homes, 400 multi-family units, and over 35 acres of support retail and commercial development.”
Tunica County currently has a population of less than 10,000 residents, but more than 12 million people visit this destination every year. Tunica Chamber of Commerce President Lyn Arnold said this type of development is what they’ve been seeking in Tunica County for years.
“This development will offer an outstanding lifestyle and amenities usually found in much larger areas,” Arnold said. “This development also meets our goals of establishing high quality neighborhoods and providing a variety of housing.”
The master plan calls for 18 acres of park land, professionally planned and maintained landscaping, recreational amenities, and waterway and lake systems covering 55 acres. When completed, this project will have an estimated cost of $400 million dollars. The land has been rezoned and has received all approvals from Tunica County.
“There are 15,000 jobs available in the Tunica resort area and not enough housing to meet that demand,” Tunica County Administrator Clifton Johnson said. “Additionally, more developers are choosing Tunica County for residential and commercial development because of our low taxes and proximity to the casinos and Memphis, and we look for this trend to continue for many years to come.”
Indian Creek will be located in the Tunica resort area just east of Casino Strip Resorts, home to Hollywood Casino, Resorts Casino, and Sam’s Town Casino. Construction of Phase One will start in early 2007. The developer, Landworks Communities, is completing the project in partnership with Highland Capital Real Estate Advisors. Landworks Communities is a joint venture between Stream Companies and Circa Capital Corporation. Construction financing will be provided by Texans Commercial Capital, LLC.