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This profile was last updated on 1/18/08  and contains information from public web pages.

R. Joel McAlexander

Wrong R. Joel McAlexander?

Civil Engineer

UT Knoxville
 
Background

Employment History

  • Engineer

Education

  • civil engineer
    UT Knoxville
  • U.T.
Web References
Braddock Place
www.lotsales.com, 18 Jan 2008 [cached]
R. Joel McAlexander
...
Joel graduated from UT Knoxville as a civil engineer and opened McAlexander Engineering in 1980. He has owned several businesses over the years including restaurants, apartments, health clubs, etc. Gold's gymhas been under his ownership for over 20 years. However, land development has always been his passion.
...
Shane came to work with Joel in 1994 and since they have had many successful real-estate ventures.
R. Joel McAlexander
www.jacksonlotsales.com, 1 Aug 2005 [cached]
R. Joel McAlexander
...
Joel McAlexander does the groundwork for Jackson, TN residential real estate.
Shortly after Jackson developer Joel McAlexander began his career as an engineer, he discovered the hidden value of what he was doing. He had a knack for designing subdivisions and getting the most out of the land. The Timbers was a subdivision he helped create in the mid-1970s that pioneered the now heavily populated north side of Jackson. His task was re-working the layout of streets and utilities to see if more lots could be created.
Then he hit upon a design that added lots and allowed the subdivision's developer to secure an extra $250,000 in financing for the project.
"I realized then I was on the wrong end of things," says McAlexander, who graduated from U.T.-Knoxville in 1972. "It's tough for civil engineers to make a living. If you do a good job it all works fine. People only notice your work when you see water pooling somewhere."
After several years with a two-man Jackson firm, he started out small in land development, partnering with established land dealers like Jimmy and Hal Wallace. Slowly, through other partnerships or financing deals with helpful bankers, McAlexander has completed roughly 30 subdivision projects in the past 20 years.
Other than a few ill-fated forays into health clubs and restaurants, McAlexander Engineering, a company he runs with his son Shane, has led the area in successfully creating and selling subdivision lots.
Of the 341 residential building permits issued in Jackson between June 2004 and June 2005, 66% have been on lots developed by the McAlexanders. His subdivisions are so popular with builders that he often has to hold lotteries to sell the lots. For the 2005 calendar year, McAlexander predicts he will sell around 300 lots.
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Recently, McAlexander has been grossing $1,000,000 a month selling lots to the builders who are feeding Jackson's never-ending appetite for high-end residential housing in the burgeoning north side of the city. In terms of economic impact, McAlexander figures that his land deals annually pump as much as $60 million into the community. He arrives at this figure by taking the number of lots he sells a year (200 to 300) and multiplying it by the average sales price of his neighborhood's homes ($200,000). "That's the equivalent of an industry that employs 2,000 people and pays about $30,000 a year," McAlexander says.
McAlexander's keen civil engineering eye-particularly in designing a subdivision's utilities and sewer lines-has been crucial to his success, says Truman Murray, senior vice president of Jackson Energy Authority's wastewater division.
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McAlexander, typically low-key, is having an outsized effect on Jackson. But this subdivision king almost wasn't. When asked how he got into engineering, McAlexander says it started out as a fluke. In high school, he and a friend were talking to a guidance counselor about college plans. His friend answered first and said he was going to nearby Martin and the University of Tennessee branch campus.
"That sounded good, so I said the same thing," McAlexander says.
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